US lawmakers divided in first Congressional hearing on DeFi
Pro-crypto Representatives noted the need for a freer financial system, while more skeptical lawmakers blamed DeFi for crime, scams and tax evasion. Go to Source
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Lawmaker Criticizes Biden-Harris Administration’s Approach to Defi Regulation
House Financial Services Subcommittee Chairman French Hill emphasized the need to understand decentralized finance technologies during a hearing. He criticized the Biden administration’s regulatory approach and urged Congress to keep discussions open on supporting defi innovation. Hill noted that current regulatory frameworks were created for a system reliant on centralized intermediaries, not the decentralized, peer-to-peer … Read more
EigenLayer AVS ARPA to launch native restaking rewards soon
It will be an important test case for EigenLayer and other restaking protocols, which promise extra yield on staked tokens in exchange for securing additional networks. Go to Source
Polygon and Fabric team up to fast-track ZK-proof adoption on AggLayer
The integration of Fabric Cryptography’s Verifiable Processing Units promises faster, more secure transactions on Polygon’s AggLayer. Go to Source
Plume debuts tokenized ‘Mineral Vault’ amid hunger for RWA yield, CEO says
According to Chris Yin, investor demand for RWAs is moving “upstream” from tokenized treasury bills to private alternative assets. Go to Source
Hybrid crypto exchange GRVT receives $3.3 billion monthly volume commitment
The significant contractual volume commitment from the 16 market makers comes shortly ahead of GRVT’s mainnet launch in the fourth quarter of 2024. Go to Source
Sonic blockchain reaches record 720ms finality in testnet phase
Sonic could become the fastest blockchain by finality if it maintains this performance on the mainnet. Go to Source
Crypto Biz: US regulators crack down on Uniswap
This week’s Crypto Biz explores several regulatory developments targeting crypto firms, including charges against Uniswap, a delay in a decision on an eco Bitcoin ETF, and a potential challenge to FTX’s repayment plan. Go to Source
Uniswap settles CFTC charges, Polygon’s new ‘hyperproductive’ POL token: Finance Redefined
The CFTC’s director warned that other DeFi ecosystems may also be fined for offering illegal trading services, while Polygon’s native token executed a key technical upgrade. Go to Source
DeFi’s Path To A Parallel Financial System: A Vision For The Next Five Years
DeFi has the potential to become a robust parallel financial system, but to unlock this potential, it must cater to the needs of institutional players by developing first-class financial primitives. This perspective, shared by Jesus Rodriguez, CEO of IntoTheBlock, highlights the importance of creating an infrastructure that can meet the rigorous requirements of large-scale institutions. … Read more