Odaily Planet Daily News: The U.S. Congress held its first hearing on decentralized finance (DeFi), with Republican and Democratic lawmakers showing clear differences on the issue. The hearing was hosted by the House Financial Services Committee and was titled "Decoding DeFi: Analyzing the Future of Decentralized Finance," which aims to explore emerging topics such as tokenization and the application of blockchain in the financial field. Democratic Congressman Brad Sherman was highly critical, saying that DeFi is mainly used for crimes, evading sanctions, and tax evasion. Democratic Representative Maxine Waters mentioned the incident in which Laura and Tiffany Trump's X account was hacked and used to promote scam tokens related to the Trump family's DeFi project "World Liberty Financial." She questioned whether regulators such as the SEC and CFTC have the ability to deal with DeFi platforms and "large-scale non-compliance by entities claiming to be decentralized to evade regulation." In contrast, Amanda Tuminelli, chief legal officer of the DeFi Education Fund, emphasized the openness and inclusiveness of DeFi. The two-and-a-half-hour hearing highlighted the serious differences among U.S. lawmakers on DeFi technology issues and also reflected the challenges facing regulators. Crypto lawyer Jake Chervinsky commented on social media: “A few years ago, there were only ten projects in DeFi and no one thought there would be any achievements. Now it is on full display in the halls of power in Washington.” (Cointelegraph)