Coinbase CEO Brian Armstrong supports DeFi, urges CFTC restraint, and suggests legal precedents. Regulatory scrutiny grows in the crypto industry.
decentralized finance
protocols. In a recent social media post, Armstrong urged the DeFi protocols to consider legal proceedings in court to set a precedent, as the legal system has consistently demonstrated its dedication to upholding the rule of law. The current approach is mainly pushing a crucial industry toward overseas jurisdictions, he said.
The CFTC should not be creating enforcement actions against decentralized protocols. These are not financial service businesses, and it’s highly unlikely the Commodity Exchange Act even applies to them.
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