Senate's Leaked DeFi Bill Proposes Sweeping US Regulatory Oversight
Senate's Leaked DeFi Bill Proposes Sweeping US Regulatory Oversight
A confidential draft bill circulating among Senate Democrats proposes extensive new oversight for DeFi, extending Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) requirements to DeFi interfaces, validators, and node operators. The bill, intended as a Democratic counterweight to a House-backed market-structure bill, has reportedly faced internal backlash, stalling broader discussions.
A confidential draft bill circulating among Senate Democrats proposes sweeping new oversight of DeFi, extending Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) duties to DeFi interfaces, validators, and even node operators. According to reports, the leaked bill was intended as the Democrats’ counterweight to the House-backed market-structure bill. However, internal backlash has reportedly stalled those broader discussions