US senator: Market structure bill has strongest protections for DeFi developers

Pro-crypto Republican Senator Cynthia Lummis said the market structure bill pending in the U.S. Senate contains the strongest protections yet for decentralized finance (DeFi) developers. In a post on X today, Lummis addressed claims that the bill would impose Know Your Customer (KYC) requirements on DeFi developers, calling them "FUD (fear, uncertainty, and doubt)" and urging people not to be fooled. She noted that over the past few weeks, lawmakers have been working on a third amendment through bipartisan cooperation. As a result, she said the bill is moving toward including the most robust safeguards for both DeFi and its developers, emphasizing that it must be passed to secure these protections.