Vitalik Buterin Warning: Political Coins Could Fuel Corruption
Vitalik Buterin warning , Increasing the risk of political bribery Vitalik Buterin Warns Against Political Coins, increase risk of political briberyEthereum co-founder Vitalik Buterin has shared his concerns over the rise of political tokens. He warned about the possibility of increasing the danger of bribery through Political Coins. While talking about the crypto industry’s organic evolution, Buterin warned about the risks associated with such tokens, especially when they are linked to powerful political figures.Political Tokens May Fuel Unlimited BriberyVitalik Buterin warned against the growing trend of political tokens. He described them as a tool for "unlimited" bribery. He is particularly concerned that foreign nations will use these tokens to exert influence. Politicians will use political tokens for their political benefits and misuse them. them. Political Tokens TRUMP and MELANIA: From Popularity to Plummeting ValueVitalik Buterin raised concern about political tokens such as the TRUMP and MELANIA tokens. These tokens come out during Donald Trump’s inauguration. Based on the image of U. S. President Donald J Trump and his wife, Melania. These items became popular first of all and so lost their value.Vitalik Buterin argued that political tokens, like the TRUMP and MELANIA tokens linked to Donald J Trump and Melania Trump, breach ethical boundaries.Vitalik Buterin stated“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, they are vehicles for unlimited political bribery, including from foreign nation-states.”Ivanka Trump Slams Unauthorized Use of her Name for '$IVANKA' CryptocurrencyAmid ongoing debates over political tokens, Ivanka Trump, Donald Trump’s eldest daughter, has condemned the unauthorized use of her name for the " $IVANKA" cryptocurrency. She issued a warning about likely consumer fraud, clarified that she had no involvement, and announced that her legal team is taking action to stop further misuse of her identity.Crypto Industry Face Up Regulatory ChallengesVitalik Buterin expressed his opinion on the legal environment surrounding cryptocurrencies as well as actions of Gary Gensler, the former chairman of the SEC. According to him, policies that are flexed by Gensler have come to indirectly affect the crypto market in a negative manner because projects began hiding revenue structures.Vitalik Buterin said “Gary Gensler must never be christened as a hero, even among crypto skeptics. Everything that happened in crypto was in part a response, part compliance, part rebellion, to these pressures.”Vitalik Buterin thinks that the future of the crypto industry is bright. Although political tokens and regulation are the concerns of the crypto market. He put the idea that the market will have to revert to some of the basic principles and find its foundation in transparent innovation and community-based initiatives. Buterin, who is very hopeful about the future potential of cryptocurrency. Also read: Why Crypto Market is Up Today: What Causes Crypto to Rise & Fall