Crypto Bill Showdown: Industry & Lawmakers Clash Over DeFi Regulation

A heated debate erupted between industry executives and US lawmakers regarding a proposed bill aimed at regulating the cryptocurrency market. The clash intensified after a leaked proposal from Democratic senators, which included stringent know-your-customer (KYC) and anti-money laundering (AML) requirements for decentralized finance (DeFi). This sparked public backlash from industry representatives who accused Democrats of acting in an uncooperative manner.