Vitalik Buterin Excited About the Delay of Numerous ETFs

The Joint Founder of Ethereum very recently considered cryptocurrency regulation, pointing out that he is kind of excited that regulators keep declining cryptocurrency exchange-traded funds proposals.

In a more expanded controversial Twitter thread on October 30th, Vitalik reiterated that the cryptocurrency sector is still in its infancy of drawing institutional acceptance because it calls for a regulatory framework to rule its market.

Buterin’s Cause of Excitement
Vitalik Buterin opined that the cryptocurrency Sector requires some time to reach a particular level of maturity with a total control model, which efficiently removes bad actors from exploiting this ecosystem. He believes that this is necessary before EFTs can be embraced.

It could be remembered that the United States SEC has declined numerous Bitcoin spot ETF proposals in time past. This consists of one which was filed by the number one worldwide asset manager (Grayscale) investment some months ago this year.

Vitalik Buterin’s Views of Defi Control
Buterin as well discussed his views about the regulation of the decentralized finance sector. He pointed out that the idea of applying the KYC (Know Your Customer) Rule on Decentralized finance projects can’t stop hackers from exploiting this protocol.

He revealed that this rule only applies to the front end of the platform, meanwhile hackers write codes that interact with smart contracts via the back end. He further said that the control on the front end will work if it is concentrated on restricting leverage, calling for transparency about audits and usage guarded by knowledge-based tests in place of enforcing net-value minimum policies.

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