Following the release of a market structure proposal on decentralized finance (DeFi) by Senate Democrats, Blockchain Association CEO Summer Mersinger issued a statement expressing concern over the potential impact of the legislation.
“The disappointing proposal outlined by Senate Democrats would effectively ban decentralized finance, wallet development, and other applications in the United States – an outcome that’s neither workable nor consistent with American innovation. The language as written is impossible to comply with and would drive responsible development overseas. We urge our policymakers to stay at the table, continue to engage each other across the aisle, and ensure this critical piece of legislation supports – rather than hinders – our nation’s leadership in financial technology.” – Blockchain Association CEO Summer Mersinger
The statement comes amid ongoing discussions about how to regulate DeFi platforms and related technologies in the United States.
