#加密圆桌讨论 Cryptocurrency Roundtable Discussion: Balancing DeFi, Code, and Regulation**

Recently, the cryptocurrency roundtable hosted 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 evolves, the conflict between its anonymity, open-source characteristics, and the current regulatory system becomes increasingly prominent, making the balance between innovation and compliance a focal point.

Some viewpoints argue 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, suggesting that excessive regulation may stifle innovation. However, opponents point out that DeFi projects involve user assets and financial risks, and complete detachment from regulation could lead to fraud and market chaos, harming investor interests.

The SEC's involvement reflects regulatory agencies' recognition of the potential risks associated with DeFi. Possible future solutions may include the development of adaptive regulations that both protect investors and allow room for technological advancement. Developers may need to comply with regulatory requirements based on code transparency, such as implementing identity verification 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 of technological innovation and regulatory wisdom.