#加密圆桌讨论 Crypto Roundtable Discussion: The Balance between DeFi, Code, and Regulation**

Recently, a cryptocurrency roundtable hosted by the U.S. Securities and Exchange Commission (SEC) has attracted widespread attention, with intense discussions revolving around decentralized finance (DeFi), code responsibility, and regulatory frameworks. As DeFi rapidly develops, the conflict between its anonymity, open-source nature, and the existing 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 assertion emphasizes the decentralized essence of technology and suggests 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.