Vitalik Buterin, co-founder of Ethereum, has publicly criticized the United States for its handling of cryptocurrency regulations. He believes the current system encourages the development of useless projects and vague promises of profits.
Vitalik arguments that if profits and rights are classified as securities, the focus should shift to creating tokens that maintain or increase economic value. He stressed that this change requires honest engagement from both regulators and the industry.
“I would love to see us move to the opposite situation, where it is riskier to issue a token without providing a clear long-term story for why it will maintain or increase its economic value. . If you take that long-term view and follow basic best practices, you’ll be safe.”
Vitalik Buterin – DEthereum founder
In a recent post on Warpcast, Jason – a member of the Ethereum Foundation reiterated tweet from 2022 in the debate over SBF UI regulations. Jason expressed that regulations could help reduce the number of scammers and opportunists in the industry.
He believes such regulations would make the crypto space safer. He also wants to see a feature that shows a breakdown of a coin’s token economy before swapping, including links to Etherscan that show how top holders received their coins.
Vitalik’s 2022 tweet proposed a number of regulations for DeFi interfaces. He proposed leverage limits, transparency on security audits of contract code, and knowledge-based tests of usage instead of minimum net worth rules.
The tweet was in response to Jason’s tweet calling on US regulators to back down. He pointed out that the current system allows projects with vague promises to thrive, while those with clear profits and rights are labeled as securities.
This, he argues, creates an “anarchist tyranny” that is detrimental to the industry. Vitalik calls for a move to a system where issuing tokens without a clear long-term value proposition is riskier.
Youth USA rush into crypto
Vitalik’s comments come at a time when the United States is experiencing a growing trend of cryptocurrency adoption and preference. A Bank of America survey of more than a thousand wealthy Americans found disclosure Big changes in the investment preferences of the younger generation.
While older adults (ages 44 and up) allocate 55% of their investments to stocks, younger generations allocate only 28% to stocks. Instead, they show more interest in cryptocurrencies (14% vs. 1%) and alternative investments (17% vs. 5%).
This shift is important because $84 trillion worth of intergenerational wealth transfers are expected through 2045. About 42% of these transfers are predicted to be from individuals. high net worth individual.
“We are living through a time of massive social, economic and technological change, along with the largest generational transfer of wealth in history. This research shows that wealthy Americans are focused on diversification, long-term goals and making a lasting impact with their wealth,” said Katy Knox, President of Bank of America Private Bank.
Older generations ranked stocks as the top growth prospect, while younger generations ranked stocks at the bottom.
Despite this difference, when investing in different types of companies (excluding individual companies) is combined, the numbers remain similar: 57% for young people and 56% for adults year old.
Home home
According to Cryptopolitan
