Regulation

The main ethos of Web3 is decentralization. That is, the efficient distribution of power to everyone without concentrating on the governments or some selected few.

It also means access to financial products regardless of location, race, color, gender, or unfair laws.

Most Web3 companies kicked off with this philosophy. However, it was only a matter of time before regulatory backlashes frustrated their efforts.

At the moment, most of the companies that were anti-regulations now submit to be regulated. This is a heated debate within the Web3 ecosystem.

From the regulatory point of view, many Web3 projects and companies that rose in the past had fraudulent intents and natures; from NFT projects to exchanges, and even decentralized protocols.

At this point in human history, most governments—some of which do not even understand the technology to start with—are not ready to jeopardize their citizens at the hands of potential geeky frauds.

This intent is understandable. Hence, the reason behind regulation.

At Lovely Finance, we believe we cannot reach a country's underrepresented and marginalized populations if we do not partner with their leadership.

Decentralized is relative, not absolute.

On this note, we are on track to getting licensed in a lot of countries so our company can operate there, and we can connect better with the locales for true adoption.

We believe this is not the time to get hindered from taking crypto to the masses and lose contact with the people who need DeFi.

Therefore, we are maintaining the subtle equilibrium between regulation and the decentralization underpinning of blockchain technology.