In BlockBeats news on October 10th, Coinbase CEO Brian Armstrong posted on X platform, stating that he will absolutely not accept the US Senate Democrats’ DeFi regulation proposal. He described it as a terrible proposal that, in simple terms, would stifle innovation and prevent the US from becoming the crypto capital of the world. Brian Armstrong also retweeted a statement from Blockchain Association CEO Summer Mersinger, which argued that the US Democratic Party’s DeFi regulatory proposal is fundamentally unenforceable and would, in fact, entirely prohibit decentralized finance, wallet development, and other applications within the US.
