Kain Warwick, founder of Synthetix (SNX), thinks it is now clear that US financial regulators are operating in bad faith to police the crypto sector.
In a new interview on Bankless, Warwick says he is surprised by the level of “hostile attacks” on crypto from regulators like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as lawmakers in Congress.
“Maybe this is a bit naive, but I wanted to believe that the regulators were really operating in good faith. And I actually think we’ve crossed the line where they no longer operate in good faith. It’s basically a battle and they’re just trying to win.”
Warwick says it’s unfortunate that crypto has become a partisan issue in the US. He says regulators are now launching a “clear attack” on the sector and what it is trying to build.
“That said, if there’s one sector you don’t want to become an adversary with, it’s crypto. We have been doing this much longer than you and we are absolutely not going to lose that battle, right?”
The founder of Synthetix says he believes it is “unequivocal” that crypto is the type of new technology that will make the world a better place.
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