DeFi regulation CFTC DCCPA Draft copy of a crypto bill sparks intense debate about the future of DeFi
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Crypto representatives widely panned a previous version of the bill for using too broad of a definition for a “digital commodity platform,” which “could be interpreted as a ban on decentralized finance .” “Personally, I do not believe the Bill should be passed without respecting basic software freedoms, and that it will be unconstitutional if it requires licensure/registration of mere software--I encourage others to review the draft and make their opinions known,” Shapiro tweeted.
Many in the industry saw the new draft as a step in the right direction, including Martin Hiesboeck, head of research at crypto exchange UpHold. Hisesoboeck tweeted that the new bill “seems to follow UK/EU [regulations] in broad strokes even though it uses somewhat different terminology,” and added that the “U.S. is finally getting their act together.”
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