Will the Senate’s leaked DeFi bill drain what’s left of US liquidity?

A confidential draft bill circulating among Senate Democrats proposes sweeping new oversight of DeFi, extending Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) duties to DeFi interfaces, validators, and even node operators. According to reports, the leaked bill was intended as the Democrats’ counterweight to the House-backed market-structure bill. However, internal backlash has reportedly stalled those broader discussions […]