Securities and Exchange Commissioner Chairman Gary Gensler has made his intentions clear about DeFi in specific and blockchain and all this bitcoining in general.
Chairman Gary Gensler has said DeFi “projects that reward participants with valuable digital tokens or similar incentives could cross a line into activity that should be regulated, no matter how ‘decentralized’ they say they are. There’s still a core group of folks that are not only writing the software, like the open source software, but they often have governance and fees. There’s some incentive structure for those promoters and sponsors in the middle of this.”
Some people say that he understands decentralised or that he and his are the reason it exists. They say that he is dinosaur. But on the other hand there are many who calls proponents of DeFi that they are still believing in the fairy tales of decentralisation? Or that crypto is immune to tampering and riggings?
What's your take on Gensler's statement?
