U.S. Senators Propose Restrictions on High-Risk DeFi Protocols

2025-10-10 09:35

Several U.S. Democratic senators have introduced a proposal targeting decentralized finance (DeFi) protocols deemed "high-risk." The proposal would allow the Treasury Department to place these protocols on a "restricted list" and penalize U.S. users who earn recurring income from them. Additionally, the proposal calls for Know Your Customer (KYC) regulations to be enforced on the front ends of non-custodial wallets and seeks to remove legal protections for crypto developers. The Chamber of Digital Commerce and the Blockchain Association have warned that these measures could stifle innovation and drive the industry overseas.

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