Although your statements are correct, Safe’s regulatory responsibilities remain the same. In fact, many would argue we should be leading the way in this regard especially considering the prevalence of Safe and the $ amount of assets we have in custody. The lack of compliance industry wide is one of the reasons why blockchain technology has yet to realize mass adoption.
I’ve reached out to the EF multiple times in the last 4 years, about identity and regulatory concerns as well as the rapid acceleration of quantum computing advancement, and they essentially ignored both realities up until October 18, 2023 when Vitalik Buterin warned of the need for a hard fork in the event that the quantum era suddenly arrived. Which is unconscionable considering the amount of $ at stake, the amount of business’s that could be impacted in such an event. The ID/regulatory issues could be resolved Ethereum wide by instituting an identity and proof of funds requirement for all participants along with the elimination of anonymous accounts. And whether it’s implemented as pure on chain logic using ZK proofs or an off chain work around doesn’t matter at this point when 60% of Etheruem runs on cloud servers owned by AWS and a myriad of other cloud providers - the purity of the blockchain is long gone at this point - not that it can’t be recovered. But I know avoiding the issue and or kicking the can down the road will only lead to problems like CZ of Binance and others have already learned the hard way.
The DAO I founded is Ethereum based but that didn’t stop us from being compliant. Everyone has a basic right to profit from the risk associated with building a startup or new technology regardless of whether the company is public or private. It’s simply a matter of following the regs in place. And if you do, there’s nothing to worry about.
Considering Safes has 75% of the defi market as its customers and is the creator of the protocol that many believe will be the default account structure in the future, we have a responsibility and opportunity to lead the way rather than wait for for someone else to do it.
The first public blockchain or the first significant project - the likes of Safe for example -that addresses compliance and regulation in accordance with prevailing international standards and norms will more than likely be the leader going forward. Investment and talent will pour in and challenges will be solved relatively quickly.