Coinbase CEO Brian Armstrong has firmly rejected the US Senate Democratic Party's proposal for regulating decentralized finance (DeFi). In a post on the X platform, Armstrong criticized the proposal as detrimental to innovation, warning it would prevent the US from becoming a global leader in the crypto space. He emphasized that the proposal is "terrible" and would stifle the development of DeFi, wallets, and other blockchain applications. Armstrong's stance aligns with Blockchain Association CEO Summer Mersinger, who also condemned the proposal as unacceptable. Mersinger argued that the proposed regulations would effectively ban DeFi and related technologies in the United States, posing a significant threat to the country's position in the global crypto market.
Coinbase CEO Rejects Senate Democrats' DeFi Regulatory Proposal
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