DeFi
US Treasury’s DeFi ID Plan Draws Privacy Backlash
The US Treasury is exploring whether identity checks should be built directly into decentralized finance (DeFi) smart contracts, a move critics warn could rewrite the very foundations of permissionless finance. Last week, the agency opened a consultation under the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), which was signed into law […]
Fed Governor Waller Tells Peers, Bankers Not To Be Scared Of DeFi
US Federal Reserve Governor Christopher Waller told his peers and the private banking sector that there’s “nothing to be afraid of” about crypto payments despite it operating outside the traditional banking system. “There is nothing scary about this just because it occurs in the decentralized finance or DeFi world — this is simply new technology […]
US Treasury Considers Digital ID in DeFi to Curb Illicit Finance
The US Department of the Treasury is seeking public feedback on how digital identity tools and other emerging technologies could be used to fight illicit finance in crypto markets, with one option being embedding identity checks into decentralized finance (DeFi) smart contracts. The consultation, published this week, stems from the newly enacted Guiding and Establishing […]
A16z Crypto And Advocacy Group Call For NFT, DeFi App Safe Harbor At SEC
Andreessen Horowitz (a16z) and the advocacy organization DeFi Education Fund have asked the US Securities and Exchange Commission (SEC) to set up a safe harbor program for non-fungible token (NFT) and decentralized finance (DeFi) applications from the agency’s broker-dealer registration requirements. In a Wednesday letter to SEC Commissioner and Crypto Task Force head Hester Peirce, […]
DeFi Soars with Tokenized Stocks, But User Activity Shifts to NFTs
Locked liquidity on decentralized finance (DeFi) applications reached a record $270 billion in July, partly driven by tokenized stocks growth. DappRadar’s data shows the total value locked (TVL) in DeFi protocols jumped 30% month-over-month, while active wallets for tokenized stocks soared from roughly 1,600 to more than 90,000, pushing their market cap up 220%. Meanwhile, […]