Ethereum Founder Vitalik Buterin Criticizes “Anarcho-Despotism”

According to Ethereum founder Vitalik Buterin, in order to solve the problems in the cryptocurrency industry, both regulators and industry stakeholders need to communicate with each other in good faith.

He criticized the “securities” label

Vitalik Buterin said that projects that do not serve any purpose or that make vague statements about how they will provide returns can operate freely in the market, but projects that provide people with detailed information about how they will generate returns and what rights they have are considered "securities".

Criticizing cryptocurrency regulations, especially in the USA, Buterin said that this approach, which he defined as "anarcho-despotism", harms the cryptocurrency industry.

He wants it to be the opposite

According to the Ethereum founder, the opposite environment should be created in the cryptocurrency industry. Buterin wants there to be a legal equivalent for issuance of tokens without a detailed explanation of how it will maintain or increase its economic value in the long term.

He thinks that projects that have a long-term plan and carry out their activities in the best way should be safe.

Buterin argues that regulators and stakeholders must work with each other in good faith to create this environment.

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