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International Business Times
International Business Times
Business
Marvie Basilan

US House Members Spar Over The Future Of DeFi, Waters Hits Trumps' Project

Donald Trump DeFi United States French Hill Wiley Nickel Mike Flood Crypto NC Maxine Waters Schumer
House lawmakers are divided over DeFi, as displayed during Tuesday's digital assets subcommittee hearing. (Credit: Jernej Furman/flickr.com)

KEY POINTS

  • Rep. Hill said he believes decentralized technology can help improve U.S. financial services
  • Rep. Lynch said DeFi is 'most attractive' to illicit actors, citing a U.S. Treasury report
  • Rep. Waters slammed the Trumps' new DeFi project, World Liberty Financial
  • Rep. Flood called DeFi a fascinating technology that will cut off intermediaries
  • Rep. Nickel urged his colleagues to focus on finding 'common ground' toward bipartisan legislation

The United States has been left behind by some jurisdictions in terms of cryptocurrency and decentralized finance (DeFi) regulation, and on Tuesday, members of the House Financial Services' digital assets subcommittee expressed contradicting views about the emerging technology.

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