The House Financial Services Committee, Subcommittees on Digital Assets, Financial Technology, and Inclusion & Oversight and Investigations, has scheduled a meeting on DeFi. Entitled “Decoding DeFi: Breaking Down the Future of Decentralized Finance, the hearing was previously scheduled for July and then postponed.
The hearing will occur on Tuesday, September 10th, commencing at 10 AM ET. While the hearing memo is not yet available, the discussion should interest digital asset industry participants.
While some industry insiders laud the advent of decentralized finance and the ability to cut out middlemen (intermediaries), others take the position that someone always created the code, and it has to be hosted and ostensibly controlled somewhere. The current administration has taken the approach that DeFi is not really possible. Regardless, streamlining financial transactions, removing intrinsic friction, and automating services hold potential.
CI will update once the hearing memo is made available. The hearing will be live-streamed on the Committee website.
