A few days after his proposal for the ideal regulatory framework for crypto, Sam Bankman-Fried (SBF) is talking about him again. His proposal was not unanimous and several investors criticized his approach. He is accused in passing of bringing the crypto industry back a long way. Reactions that obviously do not shake the Boss of FTX, who still wanted to make clarifications. He posted a long thread on Twitter to clarify some misunderstandings.
Sam Bankman-Fried Breaks Down His Crypto Regulatory Framework
After the proposal of a regulatory framework on the crypto industry with blacklists and blocks, the founder and CEO of FTX Sam Bankman-Fried did not get the expected popular approval. On the contrary, he was the target of harsh criticism. One user reportedly even said on Twitter that the proposal of SBF went against the grain. Because, instead of boosting the evolution of the sector, it rather brought it back. Speaking of SBF’s goals, the user clarified, for example, that they do not match those of most top-notch FTX users. Given the different reactions, he came out of silence to explain his vision in depth.
Indeed, last Saturday, the crypto billionaire welcomed the comments “constructive” and reviews. He acknowledged that his controversial article was not definitive and that inevitably, other modifications will follow. “Special thanks to everyone who shed light on the heart of crypto: economic freedom. The freedom to own your own assets; own your own data; to build your own programs. »he said on Twitter.
In the process, he also invited members of the crypto community from Comply with OFAC Sanctions Lists. A recommendation that was not to the liking of Erik Voorhees, the founder of ShapeShit, one of the most vocal critics of the SBF proposal. “You can advocate effective altruism, or you can advocate banning 80 million innocent Iranians from the future of global finance”, hammered Vorhees on Twitter. He also criticizes SBF’s desire to have decentralized protocols governed. He concludes by pointing out that: “Sam’s suggestions for DeFi are the [partie] the most problematic of his blog”.
In sum, these contradictions on the use of blacklists or blocking are proof that the future of the crypto industry is not yet clear.
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