$ETH Cryptocurrency Roundtable Discussion: The Balance of DeFi, Code, and Regulation**

Recently, the cryptocurrency roundtable hosted by the U.S. Securities and Exchange Commission (SEC) has attracted widespread attention, focusing on 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 prominent, making the balance between innovation and compliance the 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 position emphasizes the decentralized nature of technology, arguing that excessive regulation could 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 investors' interests.