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<ul class="wp-block-list news-points">
 <li>Lawmakers were divided on DeFi’s role in finance, with Republicans favoring peer-to-peer systems and Democrats focusing on risks.</li>
 <li>Critics argued DeFi facilitates tax evasion and scams, while supporters praised its potential for financial inclusion.</li>
 <li>The hearing underscored the urgent need for clear regulatory guidance as the DeFi sector continues to grow and evolve.</li>
</ul>
Jake Chervinsky, a lawyer, expressed his emotions after the first-ever Congressional hearing on decentralized finance (<a href="https://coinedition.com/?s=DeFi" rel="noopener noreferrer nofollow">DeFi</a>). He highlighted the significance of DeFi’s rise from a handful of projects to now being discussed in Washington, D.C. <a href="https://www.youtube.com/live/YEz4TgWNj-U?themeRefresh=1" target="_blank" rel="noopener noreferrer nofollow">The hearing</a>, titled “Decoding DeFi: Breaking Down the Future of Decentralized Finance,” took place on September 10 under the House Financial Services Committee.
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 Honestly feeling emotional after the first ever DeFi hearing in Congress today <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f979.png" alt="🥹" class="wp-smiley" style="height: 1em; max-height: 1em;"> I remember years ago when DeFi was like ten projects that no one thought would amount to anything. Now it's on full display in the halls of power in DC <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> This is *so* powerful from <a href="https://twitter.com/amandatums?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@amandatums</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/xfIjyoB5ua" target="_blank" rel="noopener noreferrer nofollow">https://t.co/xfIjyoB5ua</a>— Jake Chervinsky (@jchervinsky) <a href="https://twitter.com/jchervinsky/status/1833557017023459526?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 10, 2024</a>
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<a href="https://coinedition.com/cftc-cracks-down-on-defi-uniswap-fined-for-leveraged-token-trading/" rel="noopener noreferrer nofollow">Read also: CFTC Cracks Down on DeFi: Uniswap Fined for…</a>
The post <a href="https://coinedition.com/defi-takes-center-stage-in-first-ever-congressional-hearing/" rel="noopener noreferrer nofollow">DeFi Takes Center Stage in First-Ever Congressional Hearing</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

DeFi Takes Center Stage in First-Ever Congressional Hearing

Coin Edition

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