BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

U.S. Congressman is Against Over-Regulating DeFi

by Abimbola Adu
Oct 20, 2022 - 12:00 am
in Blockchain
DeFi Regulations

Rep. Tom Emmer, often referred to as the “Crypto King of Congress”, believes decentralization in DeFi is critical.

Posting a tweet on October 20, the powerful House Republican from Minnesota and the co-chair of the Congressional Blockchain Caucus, argued that if Congress and U.S. policymakers sacrifice decentralization espoused in DeFi for legislation, the world, and specifically, the United States will be “throwing away an opportunity.”

Decentralization is the point. If we sacrifice DeFi for legislation, we’re throwing away the opportunity.

— Tom Emmer (@GOPMajorityWhip) October 20, 2022

Decentralization is an essential feature in blockchain that guarantees transactions are irreversible and secure. For example, a decentralized public network, like Ethereum, Bitcoin, and Cardano, has nodes distributed worldwide. This means that even if there are regulations in one part of the world against cryptocurrencies and DeFi, the network will continue to operate, supporting the trustless confirmation of transactions, normally in other parts of the world.

Rep. Tom has been vocal against what he perceives to be “over-regulation” in crypto by U.S. agencies. Although the volatile nature of cryptocurrencies might explain the aggressive steps and application of stringent suffocating rules by regulators, there are several advantages DeFi and blockchain present. The decentralized nature of cryptocurrencies means the technology brings financial access to people in the periphery who may not otherwise access these critical services.

In the policymaker’s assessment, Gary Gensler of the Securities and Exchange Commission (SEC) is overreaching and trying to over-regulate the space, stifling innovation. In an interview, he said that, unlike the SEC’s position, cryptocurrencies couldn’t be classified as securities since they operate from a decentralized network.

“We’ve got to remember this technology is decentralized after a project is fully developed, there’s no centralized group behind it whose work investors would be profiting on. So at that point, it should not be a security.”

Earlier, Rep. Emmer has been quoted saying DeFi and cryptocurrencies exemplify and presents an opportunity for Americans to achieve financial freedom.

Presently, Ripple Inc., the blockchain company using XRP as part of its solutions, is entangled in a court case with the SEC.

Tags: DeFiUS
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service