Vitalik Buterin spoke about the problems of regulating the cryptocurrency sector
Buterin proposed his “rules”
Buterin believes that to reduce the number of fraudsters and increase security in the industry, it is necessary to introduce certain restrictions. In particular, he suggests:
* limit leverage;
* audit the source code of the smart contract and the project as a whole;
* raise the entry threshold instead of minimum capital requirements.
Jason commented on this proposal, saying that all these rules would be useful.
In response, Buterin said that the main problem in regulating the industry remains a selective approach. According to him, some projects with minimal value operate freely on the market, while others face sanctions. Probably, here Buterin was referring to the lawsuit filed by the US Securities and Exchange Commission against Consensys, the developer of the MetaMask crypto wallet.
“I would like it to be impossible to issue a token without a clear rationale and explanation of how it will retain its value,” Buterin said.
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