Government Regulation and VaultDefi
On October 7th, 2021, the United States Government unveiled a National Crypto Enforcement Team. According to a DOJ statement, the team has the stated goal of investigating “crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors.” This team was specifically launched within the DOJ in-order to draw on their experience in handling money laundering cases. The team will also seek to recover illegal profits of crimes involving crypto currencies; prime examples of this including the ever-common rug pulls, honey pots, dusting attacks and other fraudulent schemes currently perpetrated by bad actors on the Binance Smart Chain.
While many may argue that any type of government regulation is bad for crypto, I would argue that these early steps will help give Cryptocurrency some of the legitimacy that it needs to move into the “mass adoption” phase that would bring in more first-time investors. By regulating, the federal government is taking away some of the risks of the inherently scammy nature of the BSC as of late and might ultimately allow for more legitimate use case projects to move to the fore front of the crypto sphere.
VaultDefi is uniquely equipped to work within emerging regulatory frameworks. Jen, VaultDefi’s CEO, has made no secret of the fact that she is one of the premier blockchain experts working with the Canadian government. Jen’s experience brings an unprecedented level of expertise and awareness of the inner workings of government, regulation, and red tape. Furthermore, VaultDefi as a company is taking un-precedented steps to distinguish themselves within the crypto community: 1) They have registered as an LLC within the state of Wyoming, the LLC documents are public and have the core members information. 2) The core team of devs are willingly doxed and regularly show their faces on voice chats with the VaultDefi community members. 3) The VaultDefi dev team has taken the unprecedented step of not only locking the projects liquidity pools, but they are also locking their dev wallets at launch preventing any potential “rug pull” scenarios.
The VaultDefi team has taken unprecedented steps to be the most transparent team in crypto and is uniquely positioned to meet any new government regulations head on. It is often said that only about 1% of cryptocurrency projects will survive the next 5 years; VaultDefi is indisputably, uniquely positioned to be in that 1%.