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Anndy Lian calls for the creation of a customized regulatory framework for DeFi, inspired by the classical Howey Test.
He proposes several guiding principles including the decentralization threshold, functional utility versus speculative intent, transparency, on-chain disclosure, and intermediary liability to ensure consumer safeguards.
Lian's recommendations come amid growing scrutiny of the decentralized finance sector, a landscape he has previously dissected by distinguishing true decentralized projects from those retaining centralized elements. His recent regulatory proposals align with past warnings about inflationary risks, particularly the hidden impact of money printing on broader economic stability. For further context on these emerging dynamics, see his analysis of real and fake decentralized projects and his perspective on inflation as hidden in money printing.