Although there were still criticisms of the toned-down draft, SBF clarified that he was talking about centralized on-ramps into crypto, not self-executing protocols. “It is not making claims about what DeFi devs, smart contracts, and validators must do,” Bankman-Fried wrote. “It’s looking to eventually establish guidelines about how e.g., FTX’s platform – or Fidelity’s – could interface with DeFi contracts.”

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