Respected former decentralized finance (DeFi) project founder and developer Andre Cronje has resurfaced after a lengthy hiatus to call for tighter regulations on the crypto sector amid the implosion of multiple firms this year.
SBF was met with strong community pushback however, with many people accusing the CEO of trying to monopolize or censor the DeFi space, among other things.
In an Oct. 25 blog post titled “The Crypto Winter of 2022,” Cronje called for greater regulation of the sector, noting that “the recent decline of the crypto-market has shown the flaws in the system and the need for regulation to reign in irresponsible actors and protect consumers.”
“Remedies under the current regulatory regime are ineffective.
“The safety net of deposit insurance is a remedy available to consumers in traditional banking which is not available to depositors into crypto-exchanges (like Celsius),” he wrote.
In March, however, he announced that he was stepping away from working in the industry entirely.
Source: Cointelegraph
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