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The founder of Ethereum comments that he is happy with the delayed approval of the ETF!

The founder of Ethereum comments that he is happy with the delayed approval of the ETF!

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Answer The founder of Ethereum comments that he is happy with the delayed approval of the ETF!

Ethereum co-founder Vitalik Buterin posted a series of tweets that the crypto industry shouldn’t be doing too much to attract institutional capital “at full speed”.

Buterin isn’t overly concerned about the SEC’s refusal to give the green light to an exchange-traded fund.

In fact, he is glad that US regulators have so far blocked all attempts to launch such a product.

Buterin is convinced that the cryptocurrency ecosystem must become more mature before this becomes possible.

He also believes that regulations that prevent cryptocurrencies from entering the mainstream are now bad and gives an example of regulations harming crypto projects.

Read:Chinese Bank Invests in Bitcoin (BTC) Digital Wallet

At the same time, he believes that the idea of ​​imposing KYC rules on decentralized finance interfaces is not very useful as it annoys users while doing little to deter hackers and hackers.

Buterin explains that bad actors are already writing custom code to interact with smart contracts.

Buterin advocates moderate DeFi regulations that would include limits on potential leverage, strict audit requirements as well as other measures.

Sam Bankman-Fred, CEO of FTX, praised Buterin’s suggestions, calling them very reasonable in his tweet.

Regulation remains a hot issue for the entire cryptocurrency industry, with many executives demanding continued clarity.

Read:A security researcher reveals the details of his hacking of the Samsung S10 cryptocurrency wallet

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