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Russell Castagnaro

@rcastag

181 Following
119 Followers
Russell Castagnaro pfp
Russell Castagnaro
@rcastag
A warm Farcaster welcome to @alexgriffiths!
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Russell Castagnaro
@rcastag
I wonder if there is a study on the costs and representation implications of RCV. If you look at a state like Georgia, where Runoff elections happen every year in most major seats, and how many fewer people vote in the runoff elections, it makes intuitive sense to move in this direction.
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Thomas
@aviationdoctor.eth
So is Trump favorable to crypto now that he senses an opportunity to garner votes from the onchain crowd? And if so, how genuine is he given his previous position on the matter?
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Russell Castagnaro
@rcastag
Defi Summary: The bill addresses non-custodial systems by setting clear definitions and regulations that emphasize transparency, security, and user protection. Defi folk should be aware of these provisions to ensure compliance and to advocate for regulations that support innovation while protecting user interests.
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Russell Castagnaro
@rcastag
6. Customer Protection and Bankruptcy: Provisions are included for customer protection during bankruptcy, where assets held on behalf of a customer by a digital commodity exchange are considered customer property. This ensures that user assets on non-custodial platforms are protected in the event of insolvency.
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Russell Castagnaro
@rcastag
5. Standards for Digital Commodity Exchanges: DCEs must protect customer assets and ensure the safety of customer money, assets, and property. This includes maintaining separate accounts for customer funds and ensuring robust cybersecurity measures. Also applies to DEXs where appropriate.
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Russell Castagnaro
@rcastag
4.Exemptions for Decentralized Finance Activities: Recognizes decentralized finance as blockchain protocols that allow users to engage in financial transactions in a self-directed manner without third-party intermediaries taking custody of digital assets with Certain registration exemptions.
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Russell Castagnaro
@rcastag
3. Regulations for Digital Asset Trading Systems: - Mandates that systems must notify the Commission about their operations and any material changes; Must have policies ensuring fair access, the capacity, integrity, and security of automated systems, and must comply with recordkeeping and reporting requirements.
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Russell Castagnaro
@rcastag
2. Custody Rules: - A digital asset trading system is prohibited from holding custody of customer money, assets, or property. This ensures that non-custodial systems, like DEXs, cannot hold users' funds directly, which aligns with the principles of DeFi.
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Russell Castagnaro
@rcastag
- Decentralized System: Refers to a blockchain system that meets certain criteria, including the absence of unilateral control over the blockchain system by any person or group over the past 12 months.
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Russell Castagnaro
@rcastag
- Decentralized Governance System: A rules-based system allowing users of a system to form consensus or reach agreements in the development, provision, publication, management, or administration of the system. Excludes systems where any entity has unilateral control or can determine the outcomes related to the system.
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Russell Castagnaro
@rcastag
1. Definitions Related to Blockchain and DeFi - Blockchain Protocol: Defined as any executable software deployed to a blockchain composed of publicly available and accessible source code, including smart contracts or networks of smart contracts.
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Russell Castagnaro
@rcastag
The congressional bill H.R. 4763 addresses non-custodial systems like decentralized exchanges (DEXs) and smart contract functionality primarily through several provisions that focus on decentralized finance (DeFi) and blockchain protocols. Here are the key points related to these topics:
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Russell Castagnaro
@rcastag
Time to read up on the FINANCIAL INNOVATION AND TECHNOLOGY FOR THE 21ST CENTURY ACT "Fit21" bill and let your representative and senator know what you think. https://rules.house.gov/sites/republicans.rules118.house.gov/files/RCP_H4763_xml%20%28003%29.pdf
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Russell Castagnaro
@rcastag
great one! It makes a big difference
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Russell Castagnaro
@rcastag
knowing is half the battle. Sometimes it means you don't have anything commitment worthy too..
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Russell Castagnaro
@rcastag
You can do it!
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Russell Castagnaro
@rcastag
This seems like the worst kind of Enshitification EA could pull. Sad, I still dream about those sleepless nights playing Earth and Beyond 200 internet years ago... https://x.com/itsDanielSuarez/status/1790289883397071337
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Russell Castagnaro
@rcastag
Most iPhones have the reader in the top lefthand corner of the bottom face. Most Androids have the reader about 1/3 of the way up from the bottom of the bottom face. Oh and bulky cases cause trouble... Hope that helps -
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Russell Castagnaro
@rcastag
If you are 40 or younger, you need to pay attention. https://youtu.be/tFk5gGbSBas?si=hPEnU5PbU2sGq-Lw The Boomers - as a group - and, to a lesser degree, GenX have always been about stealing from Millennials and GenZ
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