Blockchain Association Pushes Back Against DeFi Broker Rule
Reading Time: 2 minutesA coalition of U.S. digital asset companies has urged Congress to vote in favor of a resolution overturning a new DeFi broker rule The rule, finalized at the end of the Biden administration, expands the definition of a “broker” to include DeFi software providers, imposing heavy compliance burdens Industry leaders warn that the regulation threatens privacy, stifles innovation, and unfairly disadvantages American companies while leaving foreign competitors untouched A major battle is brewing in Washington over cryptocurrency regulation, as leading digital asset firms call on Congress to repeal a new rule that they argue threatens the future of decentralized finance The post Blockchain Association Pushes Back Against DeFi Broker Rule appeared first on FullyCrypto.
Reading Time: 2 minutesA coalition of U.S. digital asset companies has urged Congress to vote in favor of a resolution overturning a new DeFi broker rule The rule, finalized at the end of the Biden administration, expands the definition of a “broker” to include DeFi software providers, imposing heavy compliance burdens Industry leaders warn that the regulation threatens privacy, stifles innovation, and unfairly disadvantages American companies while leaving foreign competitors untouched A major battle is brewing in Washington over cryptocurrency regulation, as leading digital asset firms call on Congress to repeal a new rule that they argue threatens the future of decentralized finance
The post Blockchain Association Pushes Back Against DeFi Broker Rule appeared first on FullyCrypto. What's Your Reaction?
