In recent times, the regulation of the crypto market finds itself at the center of all debates. For his part, Vitalik Buterin (the founder of Ethereum) shared his opinion via a tweet. According to him, the laws and regulations applying to crypto would undermine the inner workings of the blockchain.
Buterin is not for regulation that hinders the freedom of the crypto space
Via his tweet, Vitalik Buterin joins the various crypto players: he wants clear and concise regulations to be put in place. According to the founder of Ethereum, strict regulation is indeed essential to help traditional financial institutions accept cryptocurrency. But not only ! This would also legitimize cryptos as assets.
However, Buterin takes issue with all current regulatory proposals as they make it more difficult for the general public to access crypto. Even if they would allow the free crypto space to act internally.
The founder of Ethereum nevertheless prefers these legislative proposals rather than regulations that undermine the internal functioning of the blockchain. For him, the ideal law would allow the crypto industry to easily reach the general public without impinging on the functioning of the blockchain.
Statement from Sam Bankman-Fried: Buterin gives his opinion
Vitalik Buterin’s lengthy Twitter thread appears to be a response to the controversial statement made by Sam Bankman-Fried 10 days earlier. The founder of FTX has indeed openly declared himself in favor of regulation based on a system of blocking lists. An announcement that earned him heavy criticism.
As for Vitalik Buterin’s intervention, it was well received by big names in the crypto industry (including Binance CEO Changpeng Zhao and crypto investor Ryan Sean Adam).
On his Twitter feed, Vitalik didn’t just offer his thoughts on crypto regulation. He also brings up another very insightful point: the crypto ecosystem needs time to mature. The general public will gradually accept it. Ethereum number 1 also does not find the “KYC on DeFi front-ends” idea relevant. And you, what would your opinion be?
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