Recently, there has been some activity over in the US. An organization called the "Investor Transparency Alliance" is running ads during prime time on Fox News, trying to persuade viewers to oppose the DeFi provisions in the upcoming Crypto Market Structure Act. The timing is very tight—senators plan to vote on the bill in the relevant committee next week.

Honestly, the regulatory rules for DeFi have always been the most difficult part of this bill. Legislators, traditional finance, and our crypto community all have different ideas, and the disagreements are quite significant. Right now, no one is very clear on what the specific wording of the provisions will look like, but the Senate Banking Committee is expected to release the bill's content before their hearing next Thursday. By then, the regulatory direction for DeFi should become clearer.