Ethereum co-founder Vitalik Buterin has expressed frustration with US crypto regulations, describing the regulatory framework as an “anarcho-tyranny.” He emphasizes that both regulators and the industry need to engage in good faith to effectively address the situation.
Vitalik Buterin, the co-founder of Ethereum, recently voiced his frustration with the US crypto regulations, labeling them as “anarcho-tyranny.” He called for honest and cooperative efforts from both regulators and the crypto industry to address the issues.
Vitalik Buterin Criticizes US Crypto Regulations: Insights from Colin Wu
Colin Wu, a Chinese crypto journalist, highlighted Vitalik Buterin’s strong dissatisfaction with the US regulatory system on his Wu Blockchain page. According to Wu’s post, Buterin criticized the US classification of securities, stating that the “existing system encourages useless things and vague potential returns.”
Source: X
Buterin’s comments were in response to a Warpcast user’s views on US regulations. A user named Jason had written on Warpcast during the SBF front-end regulation debate, expressing the belief that such regulations could help reduce the number of opportunists and make the industry safer. Jason also invited Buterin to share his thoughts on the current state of these regulations.
Buterin Criticizes US Crypto Regulations as Ineffective and Counterproductive
Vitalik Buterin challenged the idea that stricter regulations would make the crypto industry safer, arguing instead that the current US crypto regulations are worse. He criticized the regulatory framework for promoting inefficient practices. According to Buterin, the system favors projects that offer vague potential returns with little transparency, while penalizing those that provide clear explanations about returns and customer rights by classifying them as securities.
Buterin emphasized the need for “good-faith engagement” from both regulators and the industry to improve the situation. He noted that issuing tokens without a clear long-term vision is riskier, while tokens that provide a transparent long-term narrative are safer.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
