US Embraces DeFi: A Major Policy Shift
After facing years of pressure, the US government is making a significant pivot in its approach to decentralized finance (DeFi). The new SEC chair has made notable moves, such as dropping the Coinbase case, criticizing the agency’s previous strategies, and advocating for the formal acknowledgment of DeFi within the financial system.
Current Developments
- The Tornado Cash trial is scheduled for next month
- The SEC admits past actions were erroneous
- Staking is no longer considered a breach of securities law
- Interim guidelines are in progress to facilitate project launches before comprehensive regulation
- Custody and DeFi are now portrayed as fundamental American principles
- The recent SEC event was themed “DeFi and the American Spirit”
Significance of the Shift
Stablecoins are now recognized as instruments to fortify the US dollar, leading to crypto companies going public. There is a growing bipartisan backing for the industry, driven not by affection but practicality.
This policy transformation signifies a substantial change, paving the way for authentic projects with genuine users and sustainable business models.
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