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Feb 13, 2026
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LONG
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Peter states, "We do believe in common sense regulation of trusted persons in the space of companies like Coinbase... If you walk like a duck and you quack like a duck... we just think there should be equal treatment." Coin Center advocates for a bifurcated regulatory regime. While they fight to exempt software developers, they concede and support the regulation of centralized custodians. As the DOJ and regulators crack down on illicit finance and "fake DeFi," capital and legitimacy will flow to the entities that fit the "trusted person" regulatory mold. Coinbase is explicitly named as the entity that fits this "fair bargain." Long COIN as the beneficiary of regulatory moats around "trusted" custody. Excessive compliance costs or failure of the "market structure bill" to pass, leaving the industry in limbo. |
Unchained (Chopping Block)
Why Regulatory Clarity for Developers Will De...
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Feb 13, 2026
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LONG
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Peter argues that "truly neutral, non-discretionary infrastructure" should be treated like publishing a book. The Blockchain Regulatory Certainty Act (BRCA) aims to codify that if you don't have "control" of funds, you are not a money transmitter. If the BRCA passes or influences judicial precedent (like the Tornado Cash defense), protocols that are immutable and non-custodial gain a massive legal advantage over "managed" protocols. They become un-bannable "speech" rather than regulated financial services. Long "True" DeFi (immutable protocols) and Privacy Infrastructure that fits the "publisher" definition. Courts may reject the First Amendment argument; the definition of "Control" remains vague. |
Unchained (Chopping Block)
Why Regulatory Clarity for Developers Will De...
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Feb 13, 2026
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LONG
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Peter states, "I would be more comfortable if the way AI was built out over the next few years was as much as possible through decentralized systems for both like who owns the compute resources and how do we reward training data." As AI liability and centralization concerns grow, the regulatory and ethical argument for decentralized infrastructure strengthens. Crypto protocols that manage compute and data provenance offer a solution to the "black box" problem of centralized AI. Long Decentralized Compute and AI-adjacent crypto infrastructure. AI development speed in centralized tech (Hyperscalers) outpaces decentralized alternatives. |
Unchained (Chopping Block)
Why Regulatory Clarity for Developers Will De...
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Feb 10, 2026
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WATCH
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The DOJ is applying "conspiracy to money launder" statutes to software developers who publish code used by criminals, even if the devs don't control the funds. Peter notes this creates "strict liability" for publishing privacy software. Until the "Blockchain Regulatory Certainty Act" (BRCA) or similar legislation passes to explicitly exempt non-custodial software publishers, the legal risk premium on privacy protocols remains extreme. The sector is effectively uninvestable for institutions until this legal "wild goose chase" ends. WATCH (Avoid until regulatory clarity). Legislative failure leads to a permanent ban on privacy tech development in the US. |
Unchained (Chopping Block)
Crypto’s Legal Lines, MegaETH Launched But De...
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