加密圆桌讨论

At the recent U.S. Securities and Exchange Commission (SEC) cryptocurrency roundtable, several key figures shared their views on decentralized finance (DeFi), code, and regulation:
• SEC Chairman Atkins stated: "Engineers should not be held responsible for how others use their code."
• Hester Peirce argued: "Code is protected by the First Amendment and falls under the category of free speech."
• Erik Voorhees said: "Smart contracts represent a leap forward compared to human regulators."
• Others pointed out that decentralization is not lawless—it is transparent, predictable, and user-driven.
 
💬 What do you think of these viewpoints? Should DeFi developers be protected like open-source software developers, or held accountable like financial intermediaries? As finance becomes increasingly reliant on code, how should regulation evolve?
 
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#加密圆桌讨论 At the #CryptoRoundTable, leaders from across the blockchain ecosystem gathered to discuss the future of digital assets, regulatory clarity, and global adoption. Key themes included the importance of transparency, responsible innovation, and collaboration between industry and regulators. Experts emphasized the need for inclusive financial systems and highlighted the potential of decentralized finance (DeFi) to reshape traditional markets. Security, scalability, and sustainability were also top priorities. The event fostered meaningful dialogue and reinforced the shared commitment to building a secure, accessible, and innovative crypto landscape. Momentum from this roundtable is expected to drive impactful progress in the months ahead.

SEC Roundtable Debate: Should Code Be Blamed?

The SEC roundtable will raise the core controversy: Should DeFi developers be held accountable for the misuse of their code?

Technically Neutral Party: Code is like a kitchen knife; developers should not be responsible for user behavior (Atkins)

Free Speech Advocates: Code is protected by the Constitution and is a form of expression in the digital age (Peirce)

Efficiency First Group: Smart contracts are more transparent and efficient than human regulation (Voorhees)

Decentralization ≠ Lawlessness; Transparent rules need to be accompanied by accountability mechanisms

The line between malicious code and normal development is blurred

Mandatory Algorithm Disclosure: Require projects to disclose core code logic

Smart Contract Review: Introduce formal verification technology to identify vulnerabilities

Dynamic Regulatory Framework: Refer to the EU MiCA, balancing innovation and risk

Core Conflict: When code becomes financial infrastructure, complete technical neutrality may condone risks, while excessive regulation may stifle innovation. Future regulation needs to act like a 'digital doctor,' ensuring the healthy operation of code without interfering with its autonomous decision-making.

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Key insights from the recent crypto roundtable discussion on #加密圆桌讨论 :

1️⃣ Shift in SEC's stance: New chair Paul Atkins supports self-custody rights (referred to as 'American foundational values'), criticizes the previous administration's 'regulatory overreach', and dismisses multiple lawsuits (such as Coinbase, Ripple).
2️⃣ Controversy over regulatory framework: The focus is on whether to continue using traditional securities law (such as the Howey test) or to establish a new framework. A16z advocates for technology-neutral new regulations, while Democratic committee members warn against undermining investor protection.
3️⃣ Progress in technological regulation:
DART system: SEC and CFTC collaborate to develop a trading tracking system to monitor on-chain and off-chain transactions, raising privacy concerns.
New custody regulations: Require crypto custodians to isolate client assets, enforce insurance, and conduct third-party audits to mitigate bankruptcy risks.
4️⃣ NFT and DeFi become focal points: SEC hints at releasing regulatory guidelines for NFTs, while DeFi needs to balance compliance with innovation.

Additionally, mentions of institutions adopting accelerators (such as Bitcoin ETFs) and insufficient deployment of quantum-resistant encryption technology (only 37% of systems meet standards) are noted.

Core insights from the recent crypto roundtable discussion on #加密圆桌讨论 :
1️⃣ SEC's shift in attitude: New Chair Paul Atkins supports self-custody rights (referred to as "American foundational values"), criticizes his predecessor's "regulatory overreach," and has dropped several lawsuits (such as against Coinbase and Ripple).
2️⃣ Controversy over regulatory framework: The focus is on whether to continue using traditional securities laws (such as the Howey Test) or to create a new framework. A16z advocates for technology-neutral new regulations, while Democratic committee members warn against weakening investor protection.
3️⃣ Progress in technical regulation:
DART system: SEC and CFTC collaborate to develop a trading tracking system to monitor on-chain and off-chain transactions, raising privacy concerns.
New custodial regulations: Require crypto custodians to isolate customer assets, enforce insurance, and conduct third-party audits to mitigate bankruptcy risks.
4️⃣ NFT and DeFi in the spotlight: SEC hints at releasing regulatory guidelines for NFTs, while DeFi needs to balance compliance and innovation.
Also mentioned are institutions adopting acceleration (such as Bitcoin ETFs) and insufficient deployment of quantum-resistant encryption technology (with only 37% of systems meeting standards), among other points.

#加密圆桌讨论 Recently, the cryptocurrency roundtable hosted by the U.S. Securities and Exchange Commission (SEC) has garnered widespread attention. The meeting sparked intense discussions around decentralized finance (DeFi), code responsibility, and regulatory frameworks. With the rapid development of DeFi, the conflicts between its anonymity, open-source characteristics, and the current regulatory system have become increasingly pronounced. How to balance innovation and compliance has become the focal point.
Some viewpoints suggest that DeFi developers should be responsible for the code, like traditional open-source developers, without bearing financial regulatory obligations. This argument emphasizes the decentralized nature of technology and posits that excessive regulation may stifle innovation. However, opponents point out that DeFi projects involve user assets and financial risks, and completely distancing from regulation could lead to fraud and market chaos, harming investor interests.

#加密圆桌讨论 🔥 Recently, the SEC held a cryptocurrency roundtable that brought forth many significant viewpoints regarding how DeFi should be regulated:

🔹 The SEC Chairman stated: "Engineers should not be held responsible for how others use the code they write."
🔹 Hester Peirce, known as the "crypto mom," was even more direct: "Writing code is also a form of free speech!"
🔹 Erik Voorhees mentioned: "Smart contracts represent a leap compared to traditional regulation."
🔹 Others added: Decentralization is not chaos, but rather an order that is open, transparent, and user-managed.

These statements highlight a key question: Are those who write DeFi protocols merely programmers, or are they actually financial intermediaries?

My view is:
If you are just writing an open-source code and putting it on-chain for everyone to use freely, then like the open-source community, you shouldn't be treated as a bank;
But if you control the interface, the tokens, charge fees, and influence governance, then you may indeed bear some responsibility.

💡 After all, finance is increasingly run by programs, and regulation should evolve accordingly. It's not that everything should be unregulated, nor should it be a one-size-fits-all approach.

What do you think? Should DeFi developers be treated as engineers or intermediaries? How should regulation proceed without stifling innovation? 👇 Feel free to leave a comment and discuss!

#加密圆桌讨论 Night Brush to SEC Crypto Roundtable Meeting Transcript, Chairman Atkins said, "Engineers should not be held accountable for the code" which truly expresses the voice of us programmers! When I revise smart contracts late at night, I never thought that users would use it to launder money and I would have to take the blame? Hester Peirce incisively pointed out—our code is indeed freedom of speech, every comment and function we write is a cry from the digital age.
But reality is like a bucket of cold water poured over one's head. In the eyes of regulators, what flows in DeFi protocols is real money. When users lose millions due to vulnerabilities, the belief that "code is law" collapses instantly. Erik Voorhees' praised smart contracts are indeed transparent and efficient, but when hackers invade without restraint, who will pay for the shattered trust?

The #加密圆桌讨论 Cryptocurrency Roundtable Discussion is a meeting format for in-depth exploration and communication regarding cryptocurrencies and related fields. Below are some relevant introductions:

Recent Related Conferences and Content

• U.S. Securities and Exchange Commission (SEC) 2025 Cryptocurrency Roundtable Conference: From April to June 2025, the SEC hosted four cryptocurrency roundtable meetings. The meetings covered core topics such as cryptocurrency trading regulation, asset custody, asset tokenization and integration with traditional finance, and decentralized finance (DeFi). The SEC proposed a "tiered regulatory" approach, implementing stricter capital and transparency requirements for centralized exchanges, while establishing a code of conduct for decentralized exchanges; it also introduced the concept of a "regulatory sandbox," allowing DeFi projects to test compliance solutions under certain conditions.

Industry Impact

• Accelerated Institutional Capital Inflow: Coinbase was included in the S&P 500 index, and fintech companies like Circle launched listing plans, showing traditional financial markets' recognition of the cryptocurrency industry.

• Wave of Real Asset Tokenization: Simplified standards for the issuance of security tokens, with institutions like Blackrock promoting the on-chain integration of assets such as real estate and artworks.

• Reshaping of the Global Regulatory Landscape: The SEC's regulatory framework is attracting cryptocurrency projects back to the U.S. market, while also prompting the European Union, Singapore, and other regions to adjust their regulatory strategies.

Hong Kong Cryptocurrency Finance Forum Roundtable Discussion

The third Hong Kong Cryptocurrency Finance Forum held a roundtable discussion on April 8, 2025, themed "Essential Infrastructure – Building the Blueprint for the Future of the Cryptocurrency Financial World." The discussion focused on how to balance compliance regulatory adaptability with technological scalability, with participants sharing their views on the importance of compliance, security guarantees, product development to avoid compliance risks, and the dynamic layering of compliance and regulation.

At the recent U.S. Securities and Exchange Commission (SEC) cryptocurrency roundtable, several key figures shared their views on decentralized finance (DeFi), code, and regulation:
• SEC Chairman Atkins stated, "Engineers should not be held responsible for how others use their code."
• Hester Peirce argued, "Code is protected by the First Amendment and falls under the category of free speech."
• Erik Voorhees remarked, "Smart contracts represent a leap forward compared to human regulators."
• Others pointed out that decentralization is not lawless—it is transparent, predictable, and user-driven.

💬 What are your thoughts on these perspectives? Should DeFi developers be protected like open-source software developers, or held accountable like financial intermediaries? As finance increasingly relies on code, how should regulation evolve?

👉 Use the 39550475281 hashtag, create posts with the $ETH tag, or share your trader profile to earn points! New addition: Share your trades and earn 5 points! (Click “+” on the app homepage and enter the task center)

The core of the 2025 Crypto Roundtable Discussion revolves around the restructuring of regulatory frameworks and tokenization technology, with the main trends as follows:

1. Regulatory Shift: The U.S. SEC is shifting from 'enforcement-driven' to 'rules-based', proposing a layered regulatory system, applying securities law to centralized tokens, implementing behavioral regulation for DeFi, and launching a 'regulatory sandbox' to test compliance solutions.

2. Wave of Tokenization: Traditional financial giants like BlackRock and Fidelity are accelerating asset on-chain, with significant growth in the tokenization scale of real-world assets (RWA) such as real estate and government bonds, and Nasdaq plans to launch an on-chain trading platform.

3. Controversies and Challenges: The ambiguity of the SEC's definition of 'securities' raises questions, the feasibility of DeFi compliance is in doubt, and the balance between privacy and transparency has become a focal point (e.g., DART tracking system).

4. Global Impact: U.S. policy adjustments are prompting regulatory coordination in regions such as the EU and Singapore, institutional capital is accelerating entry, and Bitcoin ETFs and compliant DeFi products are gaining favor.

These discussions mark a critical turning point for the crypto industry from wild growth to compliance.

## Is the code a cage? DeFi developers are trapped in the eye of the regulatory storm

I watched the transcript of the SEC crypto roundtable last night. Chairman Atkins's statement that "engineers should not be responsible for the use of code" simply speaks out the voice of us coders! When I was modifying the smart contract late at night, did I ever think that I would be blamed for the users using it to launder money? Hester Peirce was even more pointed - the code we write is freedom of speech, this line of comment and that line of function, every word is a cry of the digital age.

But reality is like pouring ice water on your head. In the eyes of regulators, the DeFi protocol is flowing with real money. When users lose millions due to vulnerabilities, the belief that "code is law" collapses instantly. The smart contracts advocated by Erik Voorhees are transparent and efficient, but when hackers are free to enter, who will pay for the broken trust?

**Developers are torn between two identities:** Free knights in the open source world, or responsible entities in the financial system? The sword of Damocles of regulation hangs high - if we are regarded as traditional financial intermediaries, every GitHub commit needs to be endorsed by a lawyer, and the fire of innovation will be suffocated in the quagmire of compliance.

Regulation must dance with technology. Since blockchain is inherently transparent and traceable, why not use on-chain behavior as a regulatory yardstick? Establish code security standards, set up a bug bounty mechanism, and use technical means to achieve "embedded regulation". As the roundtable said: decentralization is by no means lawless. When the regulatory framework learns to understand the language of smart contracts, user protection and developer freedom can finally be achieved.

Will the code flying on the keyboard at this moment turn into an innovation engine or a list of evidence tomorrow? The speed of regulatory evolution will determine whether we have a blueprint for future finance or invisible handcuffs.

#加密圆桌讨论 $ETH

This week's crypto roundtable focused on three major topics: institutional entry, the combination of AI and Web3, and L2 scaling solutions. Experts attending the meeting believe that stablecoins, as a bridge linking traditional finance and on-chain assets, will continue to receive policy attention. Meanwhile, AI-driven on-chain smart agents will revolutionize user interaction, and the L2 ecosystem seeks to balance gas efficiency and user experience. Overall, although the market is volatile, the pace of innovation has not slowed, and there remains long-term bullish potential.

At the recent U.S. Securities and Exchange Commission (SEC) cryptocurrency roundtable, several key figures shared their views on decentralized finance (DeFi), code, and regulation:
• SEC Chairman Atkins stated, "Engineers should not be held responsible for how others use their code."
• Hester Peirce believes, "Code is protected by the First Amendment and falls under the realm of free speech."
• Erik Voorhees said, "Smart contracts are a leap forward compared to human regulators."
• Others pointed out that decentralization is not lawless—it is transparent, predictable, and user-driven.

💬 What are your thoughts on these viewpoints? Should DeFi developers be protected like open-source software developers, or held accountable like financial intermediaries? As finance increasingly relies on code, how should regulation evolve?

👉 Use the #37665300629 hashtag, create posts tagged with $ETH, or share your trader profile to earn points! New addition: Share your trades and earn 5 points! (Click “+” on the app homepage and enter the task center)
Event time: 2025-06-11 06:00 (UTC) to 2025-06-12 06:00 (UTC)
Points are awarded on a first-come, first-served basis, so be sure to claim your points every day!

In the wave of digitization, encryption technology has become a core tool for protecting privacy and security. Recently, a roundtable discussion on encryption technology brought together industry experts to explore end-to-end encryption, blockchain security, and the challenges posed by quantum computing. Participants emphasized that encryption is not just a technical issue, but also concerns human rights and freedom. Although there is tension between government regulation and privacy protection, the consensus is: strengthening encryption standards and promoting open-source collaboration are essential to building a safer digital future. This discussion provided valuable ideas for balancing innovation and security, and also called on the public to value data autonomy.

#加密圆桌讨论

Encrypted Roundtable Discussion: Exploring Privacy and Security in the Digital Age
In the wave of digitization, encryption technology has become
a core tool for protecting privacy and security.
Recently, a roundtable discussion on encryption technology gathered industry experts
to explore end-to-end encryption, blockchain security, and the challenges posed by quantum computing.
Participants emphasized that encryption is not just a technical issue
but also relates to human rights and freedom.
Despite the tension between government regulation and privacy protection,
the consensus is: strengthening encryption standards and promoting open-source collaboration
is essential to building a safer digital future.
This discussion provided valuable insights for balancing innovation and security
and also called on the public to pay attention to data autonomy.

#加密圆桌讨论 **Encryption Roundtable Discussion: Exploring Privacy and Security in the Digital Age**

In the wave of digitalization, encryption technology has become a core tool for protecting privacy and security. Recently, a roundtable discussion on encryption technology brought together industry experts to explore end-to-end encryption, blockchain security, and the challenges posed by quantum computing. Participants emphasized that encryption is not just a technical issue, but also relates to human rights and freedom. Despite the tension between government regulation and privacy protection, there is a consensus that strengthening encryption standards and promoting open-source collaboration are essential to building a safer digital future. This discussion provided valuable insights for balancing innovation and security, and also called on the public to pay attention to data sovereignty.

#加密圆桌讨论 **Encrypted Roundtable Discussion: Exploring Privacy and Security in the Digital Age**

In the wave of digitization, encryption technology has become a core tool for protecting privacy and security. Recently, a roundtable discussion on encryption technology gathered industry experts to explore end-to-end encryption, blockchain security, and the challenges posed by quantum computing. Participants emphasized that encryption is not just a technical issue, but also relates to human rights and freedom. Although there is tension between government regulation and privacy protection, the consensus is that strengthening encryption standards and promoting open-source collaboration are essential to building a safer digital future. This discussion provided valuable insights for balancing innovation and security, and also called for public attention to data autonomy.

#加密圆桌讨论 **Encrypted Roundtable Discussion: Exploring Privacy and Security in the Digital Age**

In the wave of digitalization, encryption technology has become a core tool for protecting privacy and security. Recently, a roundtable discussion on encryption technology brought together industry experts to explore end-to-end encryption, blockchain security, and the challenges posed by quantum computing. Participants emphasized that encryption is not just a technical issue, but also concerns human rights and freedom. Despite the tension between government regulation and privacy protection, there is a consensus: strengthening encryption standards and promoting open-source collaboration are essential for building a safer digital future. This discussion provided valuable insights for balancing innovation and security, and also called on the public to pay attention to data autonomy.

#加密圆桌讨论

Recently, the cryptocurrency roundtable organized by the U.S. Securities and Exchange Commission (SEC) has attracted widespread attention, with intense discussions centered around decentralized finance (DeFi), code responsibility, and regulatory frameworks. As DeFi rapidly develops, the conflicts between its anonymity, open-source characteristics, and the existing regulatory system have become increasingly prominent, making the balance between innovation and compliance a focal point.
Some viewpoints suggest that DeFi developers should be responsible only for the code, similar to traditional open-source developers, and should not bear financial regulatory obligations. This argument emphasizes the decentralized nature of technology, believing that excessive regulation may stifle innovation. However, opponents point out that DeFi projects involve user assets and financial risks, and complete detachment from regulation may lead to fraud and market chaos, harming investor interests.
The SEC's involvement reflects regulatory agencies' awareness of the potential risks associated with DeFi. In the future, possible solutions may include developing adaptive regulations that protect investors while leaving room for technological development. Developers may need to comply with regulatory requirements based on code transparency, such as introducing authentication or risk warning mechanisms.
This discussion marks the cryptocurrency industry’s transition from wild growth to maturity. The future of DeFi depends on the interplay between technological innovation and regulatory wisdom.