The US House Financial Services Digital Assets Subcommittee discussed DeFi regulatory issues at a hearing. Massachusetts Democratic Congressman Stephen Lynch stated that there is no "consensus definition" for DeFi among regulatory agencies or the industry itself. He also criticized the entire cryptocurrency industry, stating that it has been damaged by an "implosion event" and calling for legislation. Stephen Lynch said, "The committee should have explored topics such as DeFi and tokenization of digital assets long before legislation was introduced. The FIT bill that I strongly oppose excludes DeFi services. I urge the committee not to push for similar legislation because it would trigger the same consumer and investor protection risks by legalizing the industry @rsyaalfariza