{"id":39054,"date":"2022-10-31T14:18:56","date_gmt":"2022-10-31T18:18:56","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=39054"},"modified":"2022-10-31T14:18:59","modified_gmt":"2022-10-31T18:18:59","slug":"sbf-defends-crypto-regulation-proposal","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sbf-defends-crypto-regulation-proposal\/","title":{"rendered":"SBF Defends Crypto Regulation Proposal"},"content":{"rendered":"\n
The CEO of ShapeShift and the CEO of FTX, SBF, talk about proposed rules for cryptocurrencies<\/a>.<\/h5>\n\n\n\n
\"SBF
SBF Defends Crypto Regulation Proposal <\/figcaption><\/figure>\n\n\n\n


Voorhees says, “If DeFi front-ends that serve Americans need to be licensed, DeFi will die in America.” Bankman-Fried makes it clear that he won't support regulating finance that is run by a lot of different people.<\/p>\n\n\n\n

Erik Voorhees, the CEO of a cryptocurrency exchange called ShapeShift, and Sam Bankman-Fried, the CEO of another cryptocurrency exchange called FTX, took part in a debate that was set up by Bankless, a YouTube channel that focuses on crypto money and crypto finance. The proposal for regulating crypto by Bankman-Fried was at the center of the debate that Bankless set up.<\/p>\n\n\n\n

Romano, a crypto trader, and investor<\/a> said that Voorhees was using a trick called “loaded question” to manipulate SBF during the debate. He also said that Voorhees's action caused SBF to focus on a single issue instead of the bigger idea of regulation<\/a>.<\/p>\n\n\n\n

Erik Voorhees is more manipulative in this debate<\/em> and frames the argument in a manner that forces Sam to take a stance on a specific issue rather than debating the broad concept of regulation this is a classic debate tactic known as a: “loaded question”<\/em><\/p>

\u2014 Romano (@RNR_0) October 30, 2022<\/p><\/blockquote>\n\n\n\n

Ryan Sean Adams, who ran the debate, said that Voorhees's main concern was how to regulate the companies that make the websites, or “front-ends,” that let regular people access DeFi.<\/p>\n\n\n\n

Voorhees showed his sadness and said, “If DeFi front-ends that serve Americans need to be licensed, DeFi will die in America.”<\/p>\n\n\n\n

Voorhees also said that these kinds of organizations shouldn't be regulated. Voorhees said: “If it had to be done, I'd do it.”<\/p>\n\n\n\n

And if you exclude 99% of people from open, permissionless finance, then all you\u2019ve done is create a more complicated, more expensive TradFi system.<\/em><\/p><\/blockquote>\n\n\n\n

During the debate, Bankman-Fried, on the other hand, made it clear that he would not agree with regulating decentralized finance<\/a>. But he said that the rule will come in the future, whether we like it or not.<\/p>\n\n\n\n

Bankman-Fried also said this about the regulation: “I'm optimistic that we'll find a balance, where [the DCCPA] will do a good job of protecting customers and limiting business.”<\/p>\n\n\n\n

Vorhees, on the other hand, said that he didn't think the lawmakers would come up with rules that were net-positive. He added to what he said by mentioning a law in New York that says crypto exchanges<\/a> there need to apply for a “Bitlicense.”<\/p>\n\n\n\n

The post SBF Fights Back Against Erik Voorhees on Crypto Regulation appeared first on Coin Edition.<\/p>\n","protected":false},"excerpt":{"rendered":"

The CEO of ShapeShift and the CEO of FTX, SBF, talk about proposed rules for cryptocurrencies. Voorhees says, “If DeFi front-ends that serve Americans need to be licensed, DeFi will die in America.” Bankman-Fried makes it clear that he won’t support regulating finance that is run by a lot of different people. Erik Voorhees, the […]<\/p>\n","protected":false},"author":39,"featured_media":39056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4102,4368,10731],"class_list":["post-39054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-regulations","tag-finance","tag-sbf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-224.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/39054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=39054"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/39054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/39056"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=39054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=39054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=39054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}