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News

Sam Bankman-Fried Explained About DCCPA After Receiving Strong Pushback

October 24, 2022 - Around 2 mins mins to read
After his proposal for a regulatory framework for cryptocurrencies made ripples earlier this week, Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, turned to Twitter to calm the seas.
Sam Bankman-Fried Explained About DCCPA After Receiving Strong Pushback

On Saturday, the renowned crypto millionaire launched a lengthy Twitter thread in which he addressed some of the issues that crypto community members had with his blog post from Wednesday.

The junction between centralized corporations and DeFi, in particular, has been identified as a source of contention by ApeWorX Ltd. creator señor doggo:

Initially, the FTX CEO stated that in an ideal and logical world, both centralized and decentralized apps should adhere to OFAC’s sanctions lists.

Erik Voorhees, the founder of ShapeShift, was recognized for his input, which was one of the most vehement criticisms of Bankman-plan. Fried’s Voorhees charged the CEO with glorifying the United States Office of Foreign Assets Control (OFAC).

The worry is that DCCPA will prevent developers from creating whatever interfaces they want — at least not without centralized organizations claiming a piece of the pie.

Some crypto supporters are concerned about the need for regulation-driven profit, especially because Bankman-industrial Fried’s ventures have been immensely lucrative.

Meanwhile, some contend that anybody collaborating with authorities to promote the crypto business isn’t genuinely doing so. Brown Rudnick’s partner Preston Byrne stated:

Coincu will continue to update the situation related to SBF, you can find out more information through this article.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

DCCPA

FTX

OFAC

Sam Bankman-Fried

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Sam Bankman-Fried Explained About DCCPA After Receiving Strong Pushback

After his proposal for a regulatory framework for cryptocurrencies made ripples earlier this week, Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, turned to Twitter to calm the seas.
Sam Bankman-Fried Explained About DCCPA After Receiving Strong Pushback

On Saturday, the renowned crypto millionaire launched a lengthy Twitter thread in which he addressed some of the issues that crypto community members had with his blog post from Wednesday.

The junction between centralized corporations and DeFi, in particular, has been identified as a source of contention by ApeWorX Ltd. creator señor doggo:

Initially, the FTX CEO stated that in an ideal and logical world, both centralized and decentralized apps should adhere to OFAC’s sanctions lists.

Erik Voorhees, the founder of ShapeShift, was recognized for his input, which was one of the most vehement criticisms of Bankman-plan. Fried’s Voorhees charged the CEO with glorifying the United States Office of Foreign Assets Control (OFAC).

The worry is that DCCPA will prevent developers from creating whatever interfaces they want — at least not without centralized organizations claiming a piece of the pie.

Some crypto supporters are concerned about the need for regulation-driven profit, especially because Bankman-industrial Fried’s ventures have been immensely lucrative.

Meanwhile, some contend that anybody collaborating with authorities to promote the crypto business isn’t genuinely doing so. Brown Rudnick’s partner Preston Byrne stated:

Coincu will continue to update the situation related to SBF, you can find out more information through this article.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News