Thank you @HesterPeirce for correctly recognizing the nature of DeFi technology, and for your relentless advocacy for creating a more open financial system. The BSA is broken. And, noncustodial DeFi technology is fundamentally incompatible with the CeFi-suited regime. DeFi software providers that do not exercise control or custody over user funds should not be improperly classified as intermediaries. Thank you for your efforts. Read more in Commissioner Peirce's speech here: