Many Defi sector supporters criticized Sam Bankman-Fried for his suggested “crypto regulation policies”.

Sam Bankman-Fried (SBF) is the founder & CEO of the FTX crypto exchange. In the past, SBF showed his disappointment regarding the unclear crypto regulatory policies of the United States. In particular, many times he criticized the US government agencies and said that all state government agencies require separate registration.

On 19 October, Through a dedicated blog post, FTX CEO talked about the ways through which the regulation system should happen and also he suggested putting the centralized crypto sector & decentralized crypto sector under the same regulatory environment.

In the SBF’s suggestion, many points were better to adopt by the government agencies but his point of view to put Defi & Cefi under the same regulatory framework was criticized by many crypto proponents badly.

Erik Voorhees, the founder of ShapeShift, wrote an open letter to SBF and said that the digital assets market can’t respect OFCA, which banned the use of the neutral tool Tornado Cash, and also said that people who are supporting a decentralized money market can’t support blatant financial discrimination.

“For Sam to suggest that the industry ‘should respect OFAC’ is unbecoming,” Voorhees wrote. “Anyone genuinely advocating for ‘an open, free economy cannot support such blatant financial discrimination on millions of innocent people.”

FTX CEO responded to the letter and said that he sympathizes with “innocent people caught in broader blocks” of sanctions, a “policy conversation worth having.”

A Twitter user said that FTX CEO is really a great crypto entrepreneur but he is not a supporter of Decentralized Finance (Defi) & also crypto market.

FTX token

FTX CEO facing criticism for his suggestion to put Defi & Cefi under the same roof 1

FTX token ( FTT) is the native token of the FTX exchange and the current price of FTT is $23.93 and this price is 5.4% high in the last 24 hours.

Read also: Britain’s new PM is not a crypto-friendly person


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