US lawmakers proposed the "Assessing DeFi Opportunities Act", calling on the SEC, CFTC and the Secretary of the Treasury to jointly study

U.S. Representative Warren Davidson introduced the "Assessing DeFi Opportunities Act" on Tuesday. The bill calls for the U.S. SEC, CFTC, and Treasury Secretary to jointly study DeFi. Davidson stressed that DeFi plays a vital role in the future of capital markets, but he expressed concerns about the Biden-Harris administration's regulatory approach to the field. He described: "This legislation ensures that the federal government can implement data-driven financial regulation without interfering with the development of digital markets or endangering the user privacy provided by DeFi." It pointed out that as the number of users continues to increase, the total market value of DeFi has soared to approximately US$75 billion, but excessive regulation may stifle innovation and cause investment to flow abroad. The proposed study aims to help regulators understand the benefits of DeFi, such as the operational resilience of blockchain, market competition, and user privacy protection. Davidson emphasized that regulators need to "take a careful and measured approach" to ensure that DeFi can thrive without endangering user privacy or innovation. (Bitcoin.com)