EXCLUSIVE: PsyFi Co-Founders Discuss DeFi's Crossroads At Solana's Breakpoint Event
The digital asset landscape is at a pivotal crossroads, with the ethos of decentralized finance (DeFi) — privacy and decentralization — clashing with the growing demands for regulatory compliance.
At Solana's (CRYPTO: SOL) Breakpoint crypto conference, Tommy Johnson and Taylor Johnson, the co-founders of PsyFi, the financial products provider on the Solana blockchain, weigh in on the topic.
"I think it's interesting when we talk about adding KYC on-chain and all that because you have to think about how you get assets on-chain. You can't just create them out of thin air. So if you want to get U.S. dollars on-chain, you need to go to Coinbase or Kraken or some other intermediary where you have some onramp, where you have KYC. So, you know, companies like Chainalysis do this where the government, the government can figure it out like privacy," Tommy said.
"In most crypto sense, ...
Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.