Democrats propose ‘restricted list’ for DeFi protocols, sparking outcry ⚖️
Democratic senators are encountering substantial criticism for introducing a counter-proposal to the market structure bill. Critics argue the proposal could significantly hinder the growth and functionality of decentralized finance (DeFi) protocols.
The proposed legislation includes implementing a 'restricted list' for specific DeFi protocols, which has sparked outcry within the crypto community. Concern centers around the potential to 'kill DeFi,' affecting innovation and decentralized financial systems.
Overall, the proposal is seen as an attempt to exert traditional regulatory structures on a fast-evolving industry that proponents believe thrives on open, unrestricted access.
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