DeFi gets the spotlight
On Sep. 10, the first-ever Congressional hearing on decentralized finance took place, marking an important moment in the evolution of this technology.

Titled “Decoding DeFi: Breaking Down the Future of Decentralized Finance,” the hearing was led by Congressman French Hill and lasted nearly two-and-a-half hours. 

Decoding DeFi: Breaking Down the Future for Decentralized Finance (EventID=117567)
U.S. lawmakers gathered to discuss both the potential benefits and risks that DeFi could introduce to the financial system.

The hearing exposed a clear divide among lawmakers. Republicans, led by Hill, were optimistic about DeFi’s ability to remove intermediaries and transform financial markets. 

As Hill stated, “by substituting intermediaries for autonomous, self-executing code, decentralized finance can shift the way financial markets and transactions are currently structured and governed.”