Leaked Senate Document Shows Plans to Crush DeFi | CoinDesk Daily

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4.7 • 698 Ratings

🗓️ 10 October 2025

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inside the leaked Senate document outlining plans for DeFi regulation. A leaked Senate document outlines a major plan to regulate DeFi, forcing front-end service providers to register as brokers; BNB is down 2.5%, continuing its slide from its new all time high earlier this week and Metaplanet halts the sale of common stock. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - Break the cycle of exploitation. Break down the barriers to truth. Break into the next generation of privacy. Break Free. Free to scroll without being monetized. Free from censorship. Freedom without fear. We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design. Break free with Midnight, visit midnight.network/break-free - Bridge simplifies global money movement. As the leading stablecoin issuance and orchestration platform, Bridge abstracts away blockchain complexity so businesses can seamlessly move between fiat and stablecoins. From payroll providers and remittance companies to neobanks and treasury teams, Bridge powers payments, savings, and stablecoin issuance for thousands – like Shopify, Metamask, Remitly, and more. URL: ⁠⁠⁠⁠⁠https://hubs.ly/Q03KGbRK0⁠⁠⁠⁠⁠ - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Transcript

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0:00.0	Hey, everyone, you're watching Coin Desk Daily. I'm your host, Jen Sanasi.
0:09.7	The crypto industry is recoiling from a document reportedly outlining a U.S. Senate Democratic
0:14.7	pitch on handling decentralized finance as a component of the wider effort towards
0:19.6	regulating crypto in the United States.
0:22.0	The proposal suggests that a firm or individuals that handle customer needs on the front end of a
0:26.6	defy operation should have to register with the SEC or CFTC and to be regulated as a broker.
0:33.2	Summer Mercinger, who runs the blockchain association and was recently a commissioner at the CFTC,
0:37.4	said the proposal would effectively ban decentralized finance wallet development, Summer Mercinger, who runs the Blockchain Association and was recently a commissioner at the CFTC,
0:42.2	said the proposal would effectively ban decentralized finance, wallet development, and other applications in the United States. She added that the language, as written, is impossible to comply with.
0:47.5	Utility or privacy. The transparency of traditional blockchains forces a difficult choice.
0:52.8	Break free from this limitation with midnight.
0:55.3	Just like the internet made information global, stable coins are making money global. And Bridge,
0:59.7	a stripe company, is powering that shift. The native token of the BNB chain, BNB is down more than
1:05.7	2.5% in the last 24 hours, continuing its slide from its new all-time high above $1,300 earlier this
1:12.2	week. Over the past year, B&B rose 129 percent outpacing both ether and Bitcoin. In a statement
1:18.3	to CoinDesk, Jasper DeMere, a strategist at Wintermute compared the current rally to Salon's late
1:22.8	2024 cycle, where price gains in a layer one's base token triggered a wave of liquidity across the
1:28.9	ecosystem. He wrote B&B's rally fueled by gas fee cuts, RWA incentives, and liquidity
1:34.7	programs ignited a wave of on-chain activity as capital rotated into yield and mean sectors,
1:40.7	cake, hina, honey, and manta among the main beneficiaries. And the Metaplanet announced
1:45.6	a suspension of the 20th to 22nd series of stock acquisition rights, also known as moving
1:51.1	strike warrants from October 20th to November 17th. The suspension will pause the exercise of all
	...

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