Your friend is either ignorant or a willful apologist for con artists.

He almost certainly didn't read the proposed Senate Bill s8839 because the proposed language states that an "illegal rug pull" would be defined by devs being allocated more than 10% of the token and dumping more than 10% within a 5 year period from the date of the last sale of the same.

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How could anyone possibly defend rug pulls as not being prosecutable offenses with this language in the bill?

We ALL know that a rug pull is not a 5 year-long process. A rug pull happens, almost exactly, after hype and the drain will take time but it will happen, appreciably dicking all investors over who don't recognize the signs.

Fuck rug pullers. May they get fucked in the ass for all eternity by Hitler, Stalin, Mao Zedong and Pol Pot and skewered by Vlad the Imapler after.