Senator Elizabeth Warren published an op-ed on the implications of unregulated crypto. Naturally, the crypto community responded.
One user pointed out a middle ground saying there is room for regulation when it comes to centralized exchanges, which are much different than the technology of crypto and decentralized exchanges.
Centralized exchanges for crypto are a far cry from crypto the technology. Know the difference and only regulate the centralized exchanges. The risk is the centralized exchanges, not the crypto and not decentralized exchanges/finance. Crypto did not fail. SBF failed. SEC failed.The following day, not referencing the op-ed specifically, the co-founder and CEO of Binance Changpeng “CZ” Zhao also tweeted on the topic saying where there is progress there is always failure.
Some say this will "set the industry back a few years." But thinking about it, this is natural. There will be failures with progress. Happened in regulated TradFi in 2008, after 70+ years of development. The industry will recover quickly, and become stronger.
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