In recent times, the regulation of the cryptocurrency market has been 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 that apply to cryptocurrencies would undermine the inner workings of the blockchain.
Buterin is not for regulation hindering the freedom of the crypto space
Through his tweets, Vitalik Buterin joins the various crypto players: he wants clear and concise rules to be put in place. According to the founder of Ethereum, strict regulation is very essential to help traditional financial institutions accept the cryptocurrency. But not only! This would also legitimize cryptocurrencies as assets.
However, Buterin disputes all current regulatory proposals as making it more difficult for the public to access cryptocurrencies. Even if they would allow free crypto space to act internally.
However, the founder of Ethereum prefers these legislative proposals rather than regulations that undermine the inner workings of the blockchain. For him, the ideal law would allow the cryptocurrency industry to easily reach the general public without interfering with the functioning of the blockchain.
Statement by Sam Bankman-Fried: Buterin expresses 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. Indeed, the founder of FTX has openly declared himself in favor of regulation based on a blocking list system. An announcement that earned him heavy criticism.
As for Vitalik Buterin’s speech, it was well received by the big names in the cryptocurrency industry (including Binance CEO Changpeng Zhao and crypto investor Ryan Sean Adam).
On his Twitter feed, Vitalik didn’t just offer his thoughts on cryptocurrency regulation. He also raises another very insightful point: the crypto ecosystem needs time to mature. The general public will gradually accept it. Even #1 Ethereum doesn’t find the “KYC on DeFi frontends” idea relevant. And you, what would be your opinion?
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My name is Ariela and I’m 31 years old. I have been working in the field of web writing for the past 7 years. I only discovered trading and cryptocurrencies a few years ago. But it is a universe that interests me very much. And the topics covered within the platform allow me to learn more. A singer in my free time, I also cultivate a great passion for music and reading (and animals)!