Ethereum co-founder Vitalik Buterin not too long ago shared his ideas concerning ongoing regulatory struggles dealing with different blockchain initiatives, notably including Solana. In an ask-me-anything (AMA) session on Twitter, Vitalik revealed that “he feels dangerous Solana and different initiatives are getting hit on this manner [US policy approach to crypto].”
The Ethereum co-founder welcomed competitors within the blockchain ecosystem and despised the concept of Ethereum successful due to different initiatives “getting kicked off exchanges.”
The one remark I’ll make is that I really feel dangerous that @solana and different initiatives are getting hit on this manner. They don’t deserve it, and if ethereum finally ends up “successful” by way of all different blockchains getting kicked off exchanges, that’s not an honorable solution to win, and in the long run…
— vitalik.eth (@VitalikButerin) June 30, 2023
US Crypto Regulatory Strategy Hits Ethereum Opponents
Recall that in current lawsuits filed by the US Securities and Alternate Fee (SEC) in opposition to Binance and Coinbase, the regulator shortlisted a number of cryptocurrencies as “securities.” The controversial label comes with regulatory obligations which can be moderately unattainable for cryptocurrency exchanges that listing belongings for US prospects.
Following the lawsuit, fashionable buying and selling platform Robinhood delisted Solana (SOL), Cardano (ADA), and Polygon (MATIC). The regulatory uncertainty may also lure different exchanges to delist the belongings, despite the fact that impartial entities for the respective blockchains publicly denounced the securities label.
It’s notable that the US securities regulator didn’t immediately file lawsuits in opposition to the initiatives talked about above. Nonetheless, the company additionally didn’t title Ether (ETH) as safety in any of its circumstances, placing the broadly used Ethereum blockchain in high-quality stead with crypto exchanges.
Nonetheless, Ethereum’s co-founder insists that the benefit is “not an honorable solution to win, and in the long run most likely isn’t even a victory.” Vitalik Buterin added that the “actual competitors is just not in different chains, [but] the quickly increasing centralized world that’s imposing itself on us.”
Your crypto deserves the very best safety. Get a Ledger hardware wallet for just $79!