One critic, Erik Voorhees, pointed out that his approach would ban "80 million innocent Iranians from the future of global finance."
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FTX's CEO Sam Bankman-Fried has performed a bit of a U-turn after a crypto regulatory framework he published caused a Twitter storm.
Some said SBF's proposal — which called for centralized and decentralized applications to respect U.S. sanctions — went against a core crypto principle of economic freedom.
One critic, Erik Voorhees, pointed out that his approach would ban "80 million innocent Iranians from the future of global finance."
On Twitter over the weekend, SBF said he had revised his post — and said validators and smart contracts must be "free, permissionless and decentralized."
The entrepreneur added that a conversation should be had on innocent people caught in the middle of sanctions. He wrote:
"Thanks particularly to everyone who highlighted the core of crypto: economic freedom. The freedom to own your own assets; to own your own data; to build your own programs."
SBF — who is vowing to listen to constructive feedback — added:
"If you show up at 7-11 to buy a bagel, and next thing you know you're pulling out a passport and social security number and taking selfies, something’s gone wrong."
