“Entrepreneurs should be at the center of the stage discussing technologies, while lawyers sip coffee at the back of the conference hall.” 

This quote from a CLO of crypto exchange resonated with me during Mainnet in NYC last week.

A proper regulatory framework for Web3 is crucial, especially in countries with "regulation through enforcement."

This creates barriers for startups that can't afford regulatory uncertainties, forcing them to seek more friendly environments.

My post-conference impressions:

- The US remains strong for horizontal Web3 technologies (L1/L2, infrastructure)
- Verticalized projects (e.g., DeFi apps) still face significant regulatory uncertainties

DeFi advocates like DEF are doing great work educating authorities on decentralized finance's potential. However, the narrative isn't fully established yet.

We'll see if the upcoming US election can unlock DeFi's potential in the American market.

Until that time, it seems to be better to keep to a non-US legal setup for a dApp.