According to @iampaulgrewal, where software is truly decentralized, solely automates peer-to-peer transactions, and no third party has custody or control over user assets, new 18 U.S.C. 1960(b)(1)(C) charges against the third party will not be approved (source: @iampaulgrewal). According to @iampaulgrewal, this delineation indicates that enforcement under 1960(b)(1)(C) targets non-decentralized or custodial arrangements, a key factor for traders evaluating DeFi regulatory risk (source: @iampaulgrewal). According to @iampaulgrewal, traders can prioritize legal-risk screening for protocols that meet decentralized and non-custodial criteria when assessing headline and enforcement exposure tied to unlicensed money transmitting allegations (source: @iampaulgrewal).