Are Crypto Regulations coming?

Transcript

So what kind of uh regulation do you expect because we have mikar in Europe, we have some regulations in the US and um are you talking about the defi regulation or like technical decentralization regulations or what do you expect? >> Uh okay. Uh no no I I have one. It's just we have two. Um that's that's a question from I think like one 10020 billion dollar question because like uh most of people say we are in a crime season [laughter] which I agree and uh so in back in 18 uh I wrote like what regulation should be I

wrote an article about this like back in the times that for example like regulation should go based on how much ownership someone have both in terms of a network and both in terms of an application. So for example, if you are a validator and you as a validator can roll back the chain or can do your something. So what's the difference in terms of responsibility between you and Facebook? So why Facebook? We can blame uh regulatory speaking Facebook to have pedo stuff and we cannot blame you that you have the power to roll back the chain or to do something. So to stop a scam to make an escap scam happen. Same for application layer. So if you have an upgradeable application and so this means that uh with the upgradability of it uh uh you can actually like manipulate user money uh so you are a

broker in finance and so uh this for example my personal bet on how the space will go into this regulation and this will change everything mostly but uh it's we don't know like probably uh it's a bet literally what's yours Oh well I don't have an answer on that but I mean we have some certain regulations in Mika for example was for uh for payment stable coins >> yeah stable coins and different categories there um about that like your view on the regulating the nodes basically like I how do you see the current L2s how

they are um disadvice at all like we are all here probably Ethereum maxi uh or kind of and uh I mean we can we can speak about this responsibility of validators when the system is truly decentralized like Ethereum or I don't know Gnosis a little bit but uh not every L2 and like not every L1 >> that's a huge problem actually uh like for example uh when back in 2020 2021 I I read about the so I'm one of the people that are not like super happy about this the the layer two based uh road map actually personally speaking um because uh uh this problem that like for

now there's few incentives to actually you know like be decentralized enough as a layer two and uh which is true because for example like tomorrow the United States of America they can go to optimism and say oh you need to do this update >> and this will happen at some point like I strongly believe that we will achieve a moment where regulators will do something like this and uh and so the arriving to stage three stage two to stage three it's kind of like very very important that's why like for example uh Vitalic is trying to push this so much um and also like for example I'm a huge fan of the idea of based rollups because like one of my But regarding of

regulation, there's a lot of stuff that I'm like actually imply on layer choose like to not to be like the best design ever [snorts] and uh but uh it's it's kind of like about time but yes this thing is very very possible to happen and it probably will happen at some point that's will bring like probably it will be the stuff that finally will push like teams to say oh we should achieve very fast stage two. [laughter] So,