> For what it's worth, all reasonable people in the crypto space want regulation to make sure these types of poor lending practices don't continue.
I'd be very keen to learn what kind of regulation, exactly, anyone is seriously proposing for these crypto products? Namely, the problem I see is that the products in the crypto lending space in my understanding simply can't exist in anything that has any resemblance of current financial regulations. To be honest, I am not sure how they can exist in any regulatory scheme that tries to penalize scamming people. Now, if the regulation said that it is okay to scam people in crypto industry, that might be interesting. But i am not sure if anyone has been proposing that.
I'd be very keen to learn what kind of regulation, exactly, anyone is seriously proposing for these crypto products? Namely, the problem I see is that the products in the crypto lending space in my understanding simply can't exist in anything that has any resemblance of current financial regulations. To be honest, I am not sure how they can exist in any regulatory scheme that tries to penalize scamming people. Now, if the regulation said that it is okay to scam people in crypto industry, that might be interesting. But i am not sure if anyone has been proposing that.