Senate Democrats recently unveiled a counterproposal to the crypto framework bill, which has placed the Responsible Financial Innovation Act on hold. This new proposal could enforce restrictions on DeFi protocols, prompting industry stakeholders to voice apprehensions about its negative effects.
Advocates within the crypto sector argue that the proposed measures lack good faith and could stifle innovation in decentralized finance. With ongoing disagreements between Democrats and Republicans, the future of the legislation remains uncertain.
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