Synthetix (SNX) founder Kain Warwick thinks it is now clear that US financial regulators are operating in bad faith to oversee the crypto sector.
In a new interview on Bankless, Warwick says that he’s surprised by the level of “adversarial 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 genuinely operating in good faith. And I actually think we’ve crossed the line where they’re no longer operating in good faith. It’s actually a pitched battle and they’re just trying to win.”
Warwick says it’s unfortunate that crypto has become a partisan issue in the US. He argues that regulators are now executing a “clear attack” on the sector and what it’s trying to build.
“That said, if there’s one industry that you don’t want to become adversarial with, it’s crypto. We’ve been doing this for much longer than you guys and we will absolutely not lose that battle, right?”
The Synthetix founder says it’s “unequivocal” in his mind that crypto is the type of new technology that will make the world a better place.
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