SEC hints at new 'rules of play' for crypto trading

Traditional brokers, exchanges, and clearinghouses are becoming obsolete. A single blockchain protocol can now do all their jobs simultaneously, managing collateral and settling trades instantly through code. This shift to "machine speed" trading by AI agents is inevitable, and resisting it only forces innovation offshore—creating the next FTX. We must stop picking winners and let software run the markets. Can we actually trust code to replace human financial institutions?
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