Vitalik Buterin 'pretty happy' with ETF delays, prioritizes maturity over attention
Sharing his opinion on crypto regulations, Buterin spoke out against regulations that impact the inner workings of a crypto ecosystem .
New
Ethereum (ETH) co-founder Vitalik Buterin believes the crypto ecosystem needs to mature and be in tune with regulatory policies that allow crypto projects to operate freely internally.
Sharing his opinion on crypto regulations, Buterin spoke out against regulations that impact the inner workings of a crypto ecosystem.
Given current circumstances , he believed it was better to have regulations that allow internal independence of crypto projects, even if it hinders mainstream adoption. Buterin opined:
“I'm pretty happy that a lot of exchange-traded funds (ETFs) are delayed. The ecosystem needs time to mature before we get even more attention.”
The use of know-your-customer (KYC) on decentralized finance (DeFi) front ends was another concern highlighted by Buterin. However, he highlighted the need for KYC on crypto exchanges, which has seen large-scale implementations. According to the entrepreneur:
“That (KYC on DeFi interfaces) would annoy users but do nothing against hackers. Hackers are already writing custom code to interact with contracts.”
In this regard, Buterin made three recommendations, as listed below.
On an endnote , Buterin recommended using zero-knowledge proofs to meet regulatory requirements while maintaining user privacy, stating, "I would like to see rules written in such a way that the requirements can be met as much as possible by zero-knowledge proofs."
Related:
Sharing his opinion on crypto regulations, Buterin spoke out against regulations that impact the inner workings of a crypto ecosystem .
New
Ethereum (ETH) co-founder Vitalik Buterin believes the crypto ecosystem needs to mature and be in tune with regulatory policies that allow crypto projects to operate freely internally.
Sharing his opinion on crypto regulations, Buterin spoke out against regulations that impact the inner workings of a crypto ecosystem.
Given current circumstances , he believed it was better to have regulations that allow internal independence of crypto projects, even if it hinders mainstream adoption. Buterin opined:
“I'm pretty happy that a lot of exchange-traded funds (ETFs) are delayed. The ecosystem needs time to mature before we get even more attention.”
The use of know-your-customer (KYC) on decentralized finance (DeFi) front ends was another concern highlighted by Buterin. However, he highlighted the need for KYC on crypto exchanges, which has seen large-scale implementations. According to the entrepreneur:
“That (KYC on DeFi interfaces) would annoy users but do nothing against hackers. Hackers are already writing custom code to interact with contracts.”
In this regard, Buterin made three recommendations, as listed below.
On an endnote , Buterin recommended using zero-knowledge proofs to meet regulatory requirements while maintaining user privacy, stating, "I would like to see rules written in such a way that the requirements can be met as much as possible by zero-knowledge proofs."
Related:
What's Your Reaction?
