In expressing his thoughts on crypto regulation, Vitalik Buterin said that the delay of exchange-traded funds (ETFs) makes him “kind of delighted.” Vitalik Buterin explained how laws will affect cryptocurrency in a lengthy conversation on Twitter. Buterin says that all policies either prioritise protecting consumers or making it hard for criminals to move big sums of money around. Buterin also expressed support for rules that might make it simpler for the sector to gain widespread acceptance.
Buterin points out that laws that harm crypto projects inside are just as terrible as those that restrict the growth of cryptocurrencies in the general population.
Another maybe-controversial take of mine is that I don't think we should be enthusiastically pursuing large institutional capital at full speed. I'm actually kinda happy a lot of the ETFs are getting delayed. The ecosystem needs time to mature before we get even more attention.
— vitalik.eth (@VitalikButerin) October 30, 2022
The co-founder of Ethereum also commented on the suggested KYC for DeFi frontends put out by Sam Bankman-Fried, the creator of FTX. He believes that KYC for DeFi is useless and would just irritate the consumers. According to Buterin, all rules aim to accomplish two objectives: protecting consumers and making it impossible for criminals and other bad actors to transfer huge sums of money around.
Vitalik Buterin, the creator of Ethereum, stated that problems with unscrupulous actors transferring money are “concentrated in DeFi, but in large-scale crypto payments in general.” Nevertheless, he suggested rules for the DeFi frontends. Leverage restrictions, the need for openness in audits and security checks for contract codes, and usage restrictions based on knowledge-based assessments rather than net value were a few among them.
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