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BTCC / BTCC Square / Global Cryptocurrency /
Senate Democrats’ Crypto Proposal Sparks Concerns Over Offshore Development

Senate Democrats’ Crypto Proposal Sparks Concerns Over Offshore Development

Author:
Global Cryptocurrency
Published:
2025-10-10 20:58:02
9
3
BTCCSquare news:

Blockchain Association CEO Summer Mersinger criticized Senate Democrats' proposed DeFi market structure legislation, warning it would stifle U.S. innovation. The October 9 statement argues the bill's impractical compliance requirements would force crypto development abroad.

The proposal WOULD impose stringent KYC rules on decentralized platforms and eliminate developer protections. "This language bans DeFi by default," Mersinger said, emphasizing the threat to America's fintech leadership. Political deadlock persists as Republicans reportedly suspended crypto negotiations following the proposal's introduction.

|Square

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