Ethereum co-founder: Projects with vague promises of potential income remain unattended

Ethereum co-founder Vitalik Buterin criticized the regulation of the US crypto market. He pointed out difficulties directly affecting the developers of cryptocurrency projects.

The current situation in the industry contributes to the emergence of unpromising initiatives related to the issuance of tokens. However, regulators are not interested in them.

But projects that focus on transparency for investors and provide the necessary data on client rights and tokenomics attract the attention of the authorities, who initiate prosecution:

“Projects with vague promises of potential income remain outside the attention of regulators, while honest and transparent projects are immediately classified as “securities,”’ Buterin said. He further called this situation as “anarcho-tyrany”.

According to him, to resolve this issue, constructive cooperation between officials and representatives of the crypto community is needed. Thus, the Ethereum co-founder believes, projects will be able to operate without excessive regulatory pressure. At the same time, issuing tokens without a clear and reliable strategy will become meaningless.

Recently, US Congressman Wiley Nickel pointed out that the US Securities and Exchange Commission is biased towards the crypto industry and does not want to bear responsibility for protecting the interests of investors.

“The SEC’s open hostility toward the digital assets industry isn’t serving President Biden’s best interests. The SEC is turning cryptocurrency regulation into a political football and forcing President Biden to choose sides on an issue that matters to many Americans,” the politician noted.

Earlier, SEC head Gary Gensler made a statement that there is no need for additional laws regulating the activities of crypto projects. Current securities laws “cover most of the activity that occurs in the cryptocurrency markets,” the official said.

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