Congress

Decentralized finance (DeFi) is increasingly establishing itself as an essential new player. This week, the U.S. Congress held its very first hearing devoted to DeFi, a historic milestone for a sector that is already valued at $67 billion. The debate that took place reflects the deep divides within the U.S. legislative apparatus, with Republicans touting the innovation and economic freedoms offered by DeFi, while Democrats caution against the increased risks of fraud and the lack of regulation.

Patrick McHenry, a member of the US Congress and a strong supporter of cryptocurrencies, has called on the United States to embrace Bitcoin and shape the future of global finance. He emphasizes the importance for policymakers to understand this groundbreaking technology.