Comment by charles_kaw
3 years ago
> I don’t understand why you think crypto funds don’t arrange the same kind of “oversite” you describe.
Because they don't. Because it's a wild west. TradFi has it's failures as well - but that's "whataboutism".
DeFi is collapsing in real time and we'll probably see oversight and regulation around this in the near future.
>DeFi is collapsing in real time and we'll probably see oversight and regulation around this in the near future.
From the perspective of people who support the mission of DeFi and aren't just in it for the money, this is a feature, not a bug. We want these dodgy, extractive institutions to go under and not have to bail them out.
Unfortunately, large defi institutions have been advertising to retail investors. Many of whom have not just had a haircut, but their whole head shaved.
Government regulation of retail finance is a feature, not a bug.
>Government regulation of retail finance is a feature, not a bug.
It's not a bug unless you believe adults should be treated like children and not be able to take the risks they desire or face the consequences of those risks. Anyone investing in DeFi should absolutely have known the risks; it doesn't justify giving the government even more power over people's finances.
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