Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Binance and Pakistan IT ministerie Rollen Blockchain Education Program out for 80,000 students

2025-06-01

This hot new Altcoin in Defi is running the heads

2025-06-01

Bitcoin Leads, Altcoins lay – Analyze whether the trend is here to stay

2025-06-01
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Binance and Pakistan IT ministerie Rollen Blockchain Education Program out for 80,000 students

    2025-06-01

    Omnia -Protocol works together with Flare Networks to unlock more private and interoperable Web3 Future

    2025-06-01

    Hodooi and Ice Open Network are a powerful alliance for Web3 Social Expansion

    2025-05-31

    Transition to an internet supported by people

    2025-05-31

    Disney+ Unlocks Web3 for 150m+ users with new perks program Driven by Dapper Labs

    2025-05-31
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    American authorities charge six people in connection with alleged $ 66,000,000 Food Stamp -Fraud schedule

    2025-05-31

    American authorities punish the Philippines-based company for alleged computer infrastructure for crypto pig breaking stop

    2025-05-30

    FBI is looking for victims who are connected to FunNull Pig Butching Crypto Investment SCAM

    2025-05-30

    JPMorgan Chase received a fine of $ 566,082 due to alleged not responding to regulator during the energy crisis

    2025-05-30

    SEC -OFFICE LIGHTS THE POW FOR ETHEREUM Turn off in ETFs

    2025-05-30
  • Analysis

    Cronos Tart Crypto Market Downtick on Friday as asset manager Canary Capital Files for CRO ETF

    2025-05-31

    XRP multi-time frame breakdown: here comes what is there

    2025-05-31

    XRP -Price risks crash under $ 2 if the correction holds, here is why

    2025-05-31

    XRP price objectives recovery – signs of strength arise

    2025-05-31

    Bitcoin – Price extends losses – Is more disadvantage on the horizon?

    2025-05-31
  • Learn

    What Is Asset Tokenization? How It Works and Why It’s Important

    2025-05-30

    What Is DeFi 2.0 and Why It Matters

    2025-05-27

    Crypto Margin Trading: How It Works and How to Manage the Risks

    2025-05-26

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Web 3»The new bill to regulate the ‘non-regulatory’
Web 3

The new bill to regulate the ‘non-regulatory’

2023-07-20No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

TL;DR

  • Yesterday, a new bill was introduced to the US Senate titled the “Crypto-Asset National Security Enhancement Act of 2023” that would require DeFi protocols to impose bank-like controls on their users.

  • Anyone who “manages” a DeFi protocol or makes an application available to use the protocol “will be on the hook for any fraud or bad actors.”

  • After last week’s Ripple ruling, the US government can go either way: push harder for regulation or accept that crypto is indispensable.

  • As long as the regulations are fair and equitable, we’ll take them.

Full story

A new bill was introduced to the US Senate yesterday – and it’s… hmmm… interesting.

The bill, titled “Crypto-Asset National Security Enhancement Act of 2023” (a bit of a long title if you ask us) would require DeFi protocols to impose bank-like controls on their users.

Let’s break this down.

The whole idea behind DeFi – decentralized finance – is that there is no individual who has control over the funds flowing through a platform.

Do you remember FTX? That was a centralized exchange. We all know how that story ended.

But UniSwap, PancakeSwap, 1Inch etc – they are all Decentralized Exchanges (DEXs). Once people put their money into FTX, those DEXs (and a host of other DeFi products) just kept going.

The whole point of DeFi is that right there not a single point of failure (i.e. no individual person can make or break a platform or application).

The problem is that that system doesn’t really work for lawmakers.

So here’s what’s being proposed: “Anyone who ‘manages’ a DeFi protocol or makes an application available to use the protocol” will be on the hook for any fraud or bad actors.

See also  New Hampshire Bitcoin Bill Soars with 16-1 Committee-Female approval of the house following?

“If nobody controls a DeFi protocol, then – as a backstop – anyone who invests more than $25 million in developing the protocol will be responsible for these obligations,” the bill’s brief said.

After last week’s Ripple ruling, the US government can go either way: push harder for regulation or accept that crypto is indispensable.

For now it looks like they’re taking option A, but hey, as long as the regulation is fair and equitable, we’ll take it.

Source link

Bill nonregulatory regulate
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

DNS vs Web3: why only one extensions required

2025-06-01

Trade 350 App: This Trade 350 App Sets New Standard in AI-Driven Trading with Unmatched Security and User Approval

2025-05-31

How smart EOAs define the wallet experience

2025-05-31

Advanced Modular Data Center Market size to reach USD 155.52 billion by 2033, with a CAGR of 17.52%

2025-05-31
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Crypto Twitter remained jaded after scammer pretends to have cancer to sell NFTs

2023-06-02

Michael Saylor goes all the way

2025-05-02

China seized 15,000 BTC – this is why $ 1.2 billion is locked up

2025-04-17
Editors Picks

Bitcoin SV (BSV) Skyrockets Over 58% This Week Amid New Binance Perpetual Contract Listing

2023-10-21

Keyrock Trading joins Pyth Network as new data provider

2024-06-12

XRP eyes $ 5.50 by Q4, but a “next-gen rival” could surpass it with 1000% profit: Remittix

2025-05-25

Orgasm NFTs? NARS Cosmetics Brand Unveils Eyebrow Enhancement Art Auctions

2023-07-20

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Binance and Pakistan IT ministerie Rollen Blockchain Education Program out for 80,000 students

This hot new Altcoin in Defi is running the heads

Bitcoin Leads, Altcoins lay – Analyze whether the trend is here to stay

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,318.990.72%
  • ethereumEthereum(ETH)$2,505.39-0.64%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.151.07%
  • binancecoinBNB(BNB)$653.04-0.11%
  • solanaSolana(SOL)$154.15-0.34%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.1897980.38%
  • tronTRON(TRX)$0.268311-0.19%
  • cardanoCardano(ADA)$0.670.63%
  • suiSui(SUI)$3.252.77%
  • hyperliquidHyperliquid(HYPE)$32.302.49%
  • chainlinkChainlink(LINK)$13.850.78%
  • avalanche-2Avalanche(AVAX)$20.652.38%
  • stellarStellar(XLM)$0.2654231.68%
  • unus-sed-leoUNUS SED LEO(LEO)$8.68-0.72%
  • bitcoin-cashBitcoin Cash(BCH)$402.450.00%
  • the-open-networkToncoin(TON)$3.142.12%
  • shiba-inuShiba Inu(SHIB)$0.0000131.82%
  • hedera-hashgraphHedera(HBAR)$0.1676142.71%
  • litecoinLitecoin(LTC)$86.641.93%
  • polkadotPolkadot(DOT)$4.041.12%
  • moneroMonero(XMR)$326.29-1.00%
  • bitget-tokenBitget Token(BGB)$4.67-2.48%
  • ethena-usdeEthena USDe(USDE)$1.000.07%
  • daiDai(DAI)$1.00-0.01%
  • pepePepe(PEPE)$0.0000121.97%
  • piPi(PI)$0.642.85%
  • uniswapUniswap(UNI)$6.151.41%
  • bittensorBittensor(TAO)$427.886.06%
  • aaveAave(AAVE)$241.38-3.35%
  • okbOKB(OKB)$50.08-0.41%
  • aptosAptos(APT)$4.731.70%
  • nearNEAR Protocol(NEAR)$2.41-0.10%
  • crypto-com-chainCronos(CRO)$0.103204-0.11%
  • ondo-financeOndo(ONDO)$0.831.83%
  • internet-computerInternet Computer(ICP)$4.882.56%
  • ethereum-classicEthereum Classic(ETC)$16.840.72%
  • gatechain-tokenGateToken(GT)$19.330.35%
  • mantleMantle(MNT)$0.681.33%
  • kaspaKaspa(KAS)$0.0849881.48%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.143.67%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2126072.71%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • vechainVeChain(VET)$0.0240592.11%
  • render-tokenRender(RENDER)$3.914.14%
  • ethenaEthena(ENA)$0.3091431.74%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.741.00%
  • worldcoin-wldWorldcoin(WLD)$1.12-2.04%
  • filecoinFilecoin(FIL)$2.552.08%
  • bitcoinBitcoin(BTC)$104,318.990.72%
  • ethereumEthereum(ETH)$2,505.39-0.64%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.151.07%
  • binancecoinBNB(BNB)$653.04-0.11%
  • solanaSolana(SOL)$154.15-0.34%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.1897980.38%
  • tronTRON(TRX)$0.268311-0.19%
  • cardanoCardano(ADA)$0.670.63%
  • suiSui(SUI)$3.252.77%
  • hyperliquidHyperliquid(HYPE)$32.302.49%
  • chainlinkChainlink(LINK)$13.850.78%
  • avalanche-2Avalanche(AVAX)$20.652.38%
  • stellarStellar(XLM)$0.2654231.68%
  • unus-sed-leoUNUS SED LEO(LEO)$8.68-0.72%
  • bitcoin-cashBitcoin Cash(BCH)$402.450.00%
  • the-open-networkToncoin(TON)$3.142.12%
  • shiba-inuShiba Inu(SHIB)$0.0000131.82%
  • hedera-hashgraphHedera(HBAR)$0.1676142.71%
  • litecoinLitecoin(LTC)$86.641.93%
  • polkadotPolkadot(DOT)$4.041.12%
  • moneroMonero(XMR)$326.29-1.00%
  • bitget-tokenBitget Token(BGB)$4.67-2.48%
  • ethena-usdeEthena USDe(USDE)$1.000.07%
  • daiDai(DAI)$1.00-0.01%
  • pepePepe(PEPE)$0.0000121.97%
  • piPi(PI)$0.642.85%
  • uniswapUniswap(UNI)$6.151.41%
  • bittensorBittensor(TAO)$427.886.06%
  • aaveAave(AAVE)$241.38-3.35%
  • okbOKB(OKB)$50.08-0.41%
  • aptosAptos(APT)$4.731.70%
  • nearNEAR Protocol(NEAR)$2.41-0.10%
  • crypto-com-chainCronos(CRO)$0.103204-0.11%
  • ondo-financeOndo(ONDO)$0.831.83%
  • internet-computerInternet Computer(ICP)$4.882.56%
  • ethereum-classicEthereum Classic(ETC)$16.840.72%
  • gatechain-tokenGateToken(GT)$19.330.35%
  • mantleMantle(MNT)$0.681.33%
  • kaspaKaspa(KAS)$0.0849881.48%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.143.67%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2126072.71%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • vechainVeChain(VET)$0.0240592.11%
  • render-tokenRender(RENDER)$3.914.14%
  • ethenaEthena(ENA)$0.3091431.74%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.741.00%
  • worldcoin-wldWorldcoin(WLD)$1.12-2.04%
  • filecoinFilecoin(FIL)$2.552.08%