congressional

Congressional Hearing Reveals Divisions on Decentralized Finance (DeFi)

The Big Whale

11 Sep 2024 — 1 min read

United States lawmakers divided on decentralized finance (DeFi) at first-ever Congressional hearing.
Republican lawmakers advocate for peer-to-peer future, while Democrats express concerns about crime and tax evasion.
Witnesses argue for more guidance on compliance and the need for financial inclusion.
Vice President Kamala Harris and former President Donald Trump did not mention crypto in their debate.
Bitcoin price rises as market rebounds from recent downturn.
Analysts predict potential dip in Bitcoin price before October breakout.

Summary :
United States lawmakers were divided along party lines during the first-ever Congressional hearing on decentralized finance (DeFi). The hearing aimed to explore topics like tokenization and the use of blockchains in finance. Republican lawmakers expressed support for DeFi, highlighting its potential to shift the financial markets and transactions away from intermediaries. Democratic lawmakers, on the other hand, raised concerns about the use of DeFi for illegal activities and tax evasion. The hearing also touched on the ability of regulators to oversee DeFi platforms and the need for clearer guidance in the crypto industry. Overall, the hearing showcased the differing views and approaches to DeFi among lawmakers.

Sources :

- CoinTelegraph
- TheBlock
- Coindesk
- CoinTelegraph
- CoinTelegraph
- TheBlock
- Coindesk
- CoinTelegraph
- Coindesk
- CoinTelegraph

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