The article discusses the challenges and vulnerabilities that have plagued the decentralized finance (DeFi) sector, including rug pulls, hacks, and protocol failures. It highlights the lack of governance, accountability, and regulation in the industry. The author argues that if DeFi wants to have a future and regain trust, it must embrace regulation as an evolution of its ethos rather than a betrayal. Regulatory frameworks are being debated to provide structure, accountability, and better risk management mechanisms. The goals are to enhance user protection, clarity in accountability, and overall safety in the DeFi space. The article emphasizes the need for accountability, standardized risk disclosures, risk management practices, and user protection mechanisms to protect investors and prevent future crises. It concludes by stating that regulation offers DeFi a lifeline and the industry should see it as an opportunity rather than a threat.



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