#加密圆桌讨论 **Encrypted 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, with intense discussions surrounding decentralized finance (DeFi), code responsibility, and regulatory frameworks. With the rapid development of DeFi, the conflicts between its anonymity, open-source characteristics, and the existing regulatory system are becoming increasingly prominent, making the balance between innovation and compliance a focal point.

Some viewpoints argue that DeFi developers should, like traditional open-source developers, only be responsible for the code and not bear financial regulatory obligations. This stance 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 intervention reflects the regulatory agency's recognition of the potential risks associated with DeFi. Future possible solutions may include formulating adaptive regulations that protect investors while allowing space for technological development. Developers may need to align with compliance requirements based on code transparency, such as introducing authentication or risk warning mechanisms.

This discussion marks the cryptocurrency industry’s transition from reckless growth to maturity. The future of DeFi depends on the interplay of technological innovation and regulatory wisdom.