But certain decentralized financial services will never be viewed by the government as “legal” until a credible dispute passes through the court system.
These new financial products by their very nature are not immoral or illegal but they are not within the framework or concept of the law; unrelated to concerns of legality.
If I want to give my money to a contract its my money and I should be allowed to do that. Money is speech. For the government to say that I can’t put my money in an insurance contract is tantamount to them taking away my freedom of speech. If corporations disagree then the government will likely side with corporate interests. This is what they have done in the past, this is what they are doing now, and this is what they will do in the future.
Does that mean that we simply don’t provide decentralized insurance even though it could really help people simply because the government doesn’t agree? No, no, 1000x no.