#加密圆桌讨论 Cryptocurrency Roundtable Discussion: Balancing DeFi, Code, and Regulation**

Recently, the roundtable meeting on cryptocurrency organized by the U.S. Securities and Exchange Commission (SEC) has attracted widespread attention, with intense discussions centered 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 existing regulatory system have become 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 claim emphasizes the decentralized nature 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.

The SEC's involvement reflects the regulatory body's concern about the potential risks of DeFi. Possible future solutions may include developing adaptive regulations that protect investors while allowing space for technological development. Developers may need to align with compliance requirements on the basis of code transparency, such as introducing identity verification or risk disclosure mechanisms.

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