Opinion: The SEC's shot at Binance and Coinbase puts decentralized finance in jeopardy, according to Cointelegraph's Guneet Kaur.
their collapse. This liberal approach allowed them to continue functioning without suffering significant consequences for their actions.
In contrast, the crypto exchanges, such as Binance and Coinbase, are now being sued for alleged violations of securities laws and operating unregistered exchanges. This gap in treatment raises concerns about justice and equal opportunity. It seems that traditional financial institutions are offered second chances and support, but crypto exchanges are instantly subjected to legal action and regulatory crackdowns.
This discrepancy in resources and regulatory load puts crypto exchanges at a disadvantage, hampering their capacity to compete and innovate. This mismatch in regulatory treatment may hamper the fair playing field for DeFi ventures, limiting their ability to compete and develop against established financial firms.The availability of resources and financing frequently drives talent mobility.
Heightened regulatory measures against DeFi exchanges can lead to a skill drain within the ecosystem. Skilled professionals and entrepreneurs may choose to quit the DeFi industry or relocate to jurisdictions with more favorable regulatory conditions. This brain drain can deprive the DeFi business of valuable experience and limit the development of creative solutions.
For example, China’s crackdown on cryptocurrency and ICO-related activities in 2017 led to the movement of talent and crypto-related enterprises to more crypto-friendly jurisdictions like
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