Charles Hoskinson Criticizes Senate DeFi Proposal

[nihalsari]

Cardano founder Charles Hoskinson has become the latest crypto leader to voice strong opposition to a leaked Senate Democratic proposal aimed at regulating decentralized finance (DeFi).

In a YouTube livestream, Hoskinson argued that the proposal would grant the U.S. Treasury the power to blacklist DeFi protocols with “no judge, jury, or appeals process.” He warned that the measure would give regulators unchecked discretion to determine if a protocol is truly decentralized.

“Basically, they have a kill switch and anything they don’t like instantly dead,” Hoskinson said.

[Nahid10]

Hoskinson has always been vocal about sensible regulation, and this proposal clearly lacks balance or understanding.

[EmTeam]

Instead of blanket rules, the Senate should collaborate with blockchain experts to create fair, effective policies.