Vitalik Buterin believes that the cryptocurrency regulator should not interfere in the cryptocurrency industry

Vitalik Buterin, the founder of Ethereum, has joined the protracted debate on cryptocurrency regulation. He stated that the cryptocurrency industry should be «free to operate».

«Regulation that leaves the crypto space free for internal actions, but makes it difficult for crypto to grow to the mainstreamlevel, is less evil than regulation that interferes with the work of the crypto sector within the industry,» Buterin emphasized.

However, unlike FTX CEO Sam Bankman-Fried, who Binance-u-vijni-stejblkoyiniv/">argued that compromises may be needed to keep cryptocurrencies regulated freely at the protocol level, Vitalik believes that rules that keep the crypto industry completely open are much better.

Another maybe-controversial take of mine is that I don’t think we should be enthusiastically pursuing large institutional capital at full speed. I’m actually kinda happy a lot of the ETFs are getting delayed. The ecosystem needs time to mature before we get even more attention.

— vitalik. eth (@VitalikButerin) October 30, 2022

Buterin noted that cryptocurrencies should be regulated in such a way as to preserve the privacy of digital asset owners. The ethereum founder suggested that rules and restrictions could be applied using zero-knowledge proofs (ZKPs), a method where one party can prove the truthfulness of information to another without disclosing too many details.

«I would like to see the rules written in such a way that the requirements of [регуляторних органів] can be satisfied by ZKPs as far as possible. We should take advantage of this!» Buterin summarized.

Recently, the father of ethereum advised Elon Musk to move Twitter’s headquarters from the United States to Switzerland, noting that this country is the ideal place for the social network’s headquarters. Last week, during a discussion between Vitalik Buterin and Coinbase CEO Brian Armstrong, a test network for the so-called Nuon flatcoin, which will cost the same as the cost of living, was launched. As explained by the developers who worked on the launch, the token price will be calculated based on inflation data.