🇺🇸 Yesterday, the US Congress held its first hearing on decentralized finance (DeFi).

🗣️ Republican subcommittee chairman French Hill endorsed DeFi, saying it could change the way financial markets work, helping users avoid having their bank accounts seized.

🚫 Democratic Representative Brad Sherman criticized DeFi, saying it only serves criminals and tax evaders.

📊 Peter Van Valkenburgh of Coin Center argued that the crypto industry has not received enough guidance from regulators to comply with the law.

🔒 Democratic Representative Maxine Waters raised concerns about the SEC and CFTC's ability to control DeFi, citing the hack of Laura and Tiffany Trump's X account.

📉 Mark Hays of Americans for Financial Reform called the crypto and DeFi industries "highly volatile, fraudulent, and extremely exploitative."

💬 Amanda Tuminelli from DeFi Education Fund highlights DeFi for financial inclusion, not discrimination.

💡 Crypto lawyer Jake Chervinsky gets emotional as DeFi is discussed in Congress.

👉 What do you think about the future of DeFi? Comment below!#Crypto#DeFi #Blockchain