Sam Bankman-Fried drew serious flak from stalwarts and individual players involved in the blockchain and cryptocurrency arena. However, this incident occurred post the declaration announcing a proposal, mentioning certain regulations to be attached to the functioning of DeFi. The entourage of critics who took a firm stand against this proposal and suggestion believe that this kind of action will inevitably lead to the suffocating of decentralized finance, and its actual and full potential will become limited.
On the other hand, those from the blockchain and cryptocurrency industries fully support the regulatory proposal. In their educated opinion, this kind of suggestion and step had to be in the offing because, by the day, more and more people are connecting and joining up with cryptocurrencies. If not controlled in some way, the entire situation can spiral out of control.
However, this segment of individuals is also of the firm opinion that, somehow or the other, all of the sites incorporating and encouraging trading activities on decentralized exchanges platforms must come under specific guidelines. Consequently, this is to be done so as not to create a situation of complete chaos and instability in the future. According to them, the reins need to be tightened now and immediately.
