Vitalik: Crypto regulation has led to "anarchic tyranny," honest crypto developers are being driven to the brink

ChainCatcher message, Vitalik responded to a user on the Warpcast platform, stating that the current regulatory work has essentially driven honest cryptocurrency developers into a corner. The main challenge of cryptocurrency regulation (especially in the United States) has been this phenomenon: if you do something useless, or if you ask people for money in exchange for vague mentions of potential returns, then you are free and clear. But if you try to clearly explain to your clients where the returns come from and promise them what rights they have, then you are doomed, because you are a "security." The incentive gradient created by this "anarchic tyranny" will ultimately be worse than pure anarchy or pure tyranny.