The U.S. Senate has introduced a new bill that would require the imposition of harsh controls on decentralized finance (DeFi) protocols that apply to banks.
The focus of the US Senate this time DeFi had projects. Senate presenting a new bill anti money laundering (AML) stressed that the rules are necessary for the DeFi industry. In this context, DeFi protocols to their user base bank-like controls were proposed.
The bill’s summary document states that DeFi regulations apply to both the cryptocurrency sector. fighting crime as well as national security It was stated that it has a critical value at the point:
With this new bill, we aim to combat the rise in cryptocurrency-backed crime and shut down ways to avoid money laundering and enforcement measures that are critical to our national security.
This bill submitted by Congress is a controlling the DeFi protocol or offering an intermediary application to use the protocol It is designed to include everyone. On the other hand, the bill also applies to decentralized application users. authentication requirement demanded.
On the other hand, to control DeFi protocols operating independently, those projects investors was targeted. In the bill, autonomously operating DeFi protocols With an investment of more than 25 million dollars It was emphasized that individuals or institutions would have to assume regulatory responsibility.
If no one controls a DeFi protocol, then anyone who has invested more than $25 million to develop the protocol or provide budgets to developers will be liable for these obligations.