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In a recent blog post, Andre Cronje, founder of the once-popular Yearn.Finance protocol, says that the cryptocurrency industry should be regulated as strictly as traditional finance.  This would ensure strong consumer protection while also opening access to much-needed remedies.  Cronje listed various types of safeguards that are available in traditional finance, which include central bank insurance and prudential supervision.  The founder has noted that cryptocurrencies are currently operating as banks. However, they don’t actually offer any safeguards, which emboldens irresponsible actors in the industry. <br />The Yearn.Finance founder believes that imposing prudential standards on the industry would be beneficial for crypto since it will lead to longer-term market stability. It would also provide consumers with “a clear avenue” for enforcing their rights.

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【Yearn.Finance Founder calls for strict crypto regulation】In a recent blog post, Andre Cronje, founder of the once-popular Yearn.Finance protocol, says that the cryptocurrency industry should be regulated as strictly as traditional finance.  This would ensure strong consumer protection while also opening access to much-needed remedies.  Cronje listed various types of safeguards that are available in traditional finance, which include central bank insurance and prudential supervision.  The founder has noted that cryptocurrencies are currently operating as banks. However, they don’t actually offer any safeguards, which emboldens irresponsible actors in the industry. 
The Yearn.Finance founder believes that imposing prudential standards on the industry would be beneficial for crypto since it will lead to longer-term market stability. It would also provide consumers with “a clear avenue” for enforcing their rights.

Yearn.Finance Founder calls for strict crypto regulation

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