CoinDesk Podcast Network Leaked Senate Document Shows Plans to Crush DeFi | CoinDesk Daily
Oct 10, 2025
A leaked Senate proposal aims to regulate DeFi, prompting concerns about its potential to ban decentralized finance. BNB recently fell by 2.5% after hitting an all-time high, with factors influencing its dramatic rise. Additionally, the halt of Metaplanet's stock sales raises questions about capital management amid Bitcoin's fluctuations. Industry experts discuss compliance challenges for developers and wallets, highlighting the ongoing struggle between regulation and innovation in the crypto space.
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Leaked Plan Could Fold DeFi Into Broker Rules
- A leaked Senate proposal would force front-end DeFi service providers to register with the SEC or CFTC as brokers.
- Summer Merzinger warned the language would effectively ban DeFi, wallets, and many applications in the U.S.
Compliance May Be Structurally Impossible
- Summer Merzinger said the proposal's requirements are impossible to comply with as written.
- She argued the language would effectively ban decentralization and many crypto projects in the U.S.
BNB Pullback Follows Big Rally Drivers
- BNB fell over 2.5% in 24 hours after hitting a recent all-time high above $1,300.
- Analysts linked the rally to gas fee cuts, RWA incentives, and liquidity programs driving ecosystem activity.