#CryptoRoundTableRemarks

The recent SEC roundtable highlighted key issues around DeFi and developer liability. SEC Chair Gary Gensler emphasized that engineers shouldn't be held liable for how users employ their code, aligning with open-source principles. Hester Peirce’s point that "code is protected speech" under the First Amendment underscores the need for innovation without regulatory fear.

Erik Voorhees argued that smart contracts provide a significant improvement over human regulators, promoting transparency and efficiency. However, while decentralization offers user empowerment, it requires some oversight to protect against risks.

As finance becomes more code-driven, regulation should evolve to encourage innovation, clarify accountability for developers, and enhance transparency in DeFi protocols. Balancing developer rights with user protections is essential for fostering a safe and innovative financial landscape.