Vitalik Buterin: Crypto regulation has created "anarchic tyranny" and honest crypto developers are forced into a desperate situation

Vitalik Buterin said in response to a user on the Warpcast platform that the current regulatory efforts have basically forced honest cryptocurrency developers into a corner. The main challenge of cryptocurrency regulation (especially in the United States) has always been this phenomenon. If you do something useless, or you ask people to give you money in exchange for vague references to potential returns, then you are free and innocent, but if you try to clearly explain to your customers where the returns come from and promise them what rights they have, then you are finished because you are a "security." The incentive gradient created by this "anarchic tyranny" will ultimately be worse than pure anarchy or pure tyranny. From the perspective of anarchy, bad actors, scammers, and unfounded hype on social media and sharing platforms seem endless. Buterin has previously made three suggestions that claim to be able to solve the problem of "useless" cryptocurrency products and services, including limiting leverage, requiring audits and transparency, and controlling usage through knowledge tests. (Cointelegraph)