Cryptocurrency and Regulatory Direction: Voices from the SEC Workshop
At a recent workshop of the U.S. Securities and Exchange Commission (SEC), experts offered notable opinions on cryptocurrency and decentralized finance (DeFi). SEC Chairman, Atkins, stated: “Engineers should not be held responsible for how others use their code,” emphasizing the responsibility of developers in this field.
Hester Peirce, SEC Commissioner, also expressed the view that “Code is protected as speech under the First Amendment,” highlighting the need to protect creative freedom in technology. Erik Voorhees, a prominent investor, remarked that “Smart contracts are a leap forward compared to human managers,” emphasizing the transparency and automation of DeFi.
Additionally, many participants in the workshop agreed that decentralization is not lawless — in fact, it is built on a foundation of transparency and user consensus. These perspectives highlight the challenges and opportunities in regulating the cryptocurrency sector while affirming the need to protect innovation in this industry.