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haowi.eth🦙🦙🦙🚀🚀🚀|Sep 16, 2025 15:59

Now that the SEC has defined centralized sequencer L2s to be regulated as exchanges, considering the blockchain trilemma, high-performance chains and permissioned chains (DPOS) are also very likely to be regulated as exchanges—it's just a matter of time. Regulatory arbitrage, that's all.

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