Kain Warwick, the creator of Synthetix (SNX), has expressed his belief that US financial regulators are no longer operating in good faith when it comes to overseeing the cryptocurrency sector. In an interview with Bankless, Warwick mentioned his surprise at the level of “adversarial attacks” on the crypto industry by regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as lawmakers in Congress.
He noted that he initially wanted to believe that regulators were genuinely acting in good faith but now feels that they have shifted toward a more adversarial approach, with the goal of winning a battle against the crypto sector. Warwick expressed his disappointment that crypto has become a partisan issue in the US, and he believes that regulators are conducting a clear attack on the industry and its innovative potential.
Despite these challenges, Warwick remains confident that cryptocurrency is a transformative technology that will ultimately have a positive impact on the world. He emphasized the crypto community’s resilience and determination to continue building and innovating in the face of regulatory obstacles.
Warwick’s comments reflect the growing tension between the cryptocurrency industry and regulators in the United States, as authorities seek to establish clearer rules and oversight in a rapidly evolving financial landscape.