Senate Crypto Bill Markup Moved to January 27 Amid Legislative Push

TL;DR:

Senate crypto legislation moves forward with stablecoin yield restrictions favoring banks and new DeFi provisions, while Democratic senators threaten to block passage without ethics controls covering White House business ties. The post Senate Crypto Bill Markup Moved to January 27 Amid Legislative P...

Key Points:

Background:

Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.

Why It Matters:

DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.