Pro-crypto Representatives noted the need for a freer financial system, while more skeptical lawmakers blamed DeFi for crime, scams and tax evasion.
United States lawmakers were divided down party lines at the first-ever Congressional hearing on decentralized finance (DeFi).
The House Financial Services Committee’s Sept. 10 hearing — “Decoding DeFi: Breaking Down the Future of Decentralized Finance” — aimed to explore emerging topics like tokenization and how blockchains can be used in finance.
The nearly two-and-a-half-hour-long hearing highlighted the disunity between Republican and Democratic lawmakers over the technology.
