We have the leverage because if they try to put kyc on native wallets or felonize, extradite, or intimidate developers for coding, or blackball smart contracts, give "defi licenses" to CME chicago good ole boys, we will dedollarize & pull everything out of the US. US gets nothing.
Look at what Tom Duffy and the CME are doing to our industry, this decrepit guy is admitting to the US ag hearing what he & his crony did the last 4 year to us. If they try to give licenses to DeFi w/ gate keeping, Dedollarize everything, let them know.
You know how easy it is to just write a front end that shows the usd dollar amount of a completely different stable coin pegged to god knows what. Dedollarization.
Just build collateralized stable coins tied to a basket of 50 different currencies and 20 or 30 treasuries, plus 20 or 30 commodities, if these nation state want to do reflexivity attacks on the collateral, they'll have to short every major currency in every major country in the world. Invent our own peg. Over collateralize it to peg it to a past snap shot of itself at a given index of valued assets. It can be done.
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