Aaron K. Washington, Daniel Michael, Chad E. Silverman and Matthew Harris

Skadden Discusses Democratic DeFi Proposal and Cryptoasset Market-Structure Regulation

By Aaron K. Washington, Daniel Michael, Chad E. Silverman and Matthew Harris October 21, 2025 by Aaron K. Washington, Daniel Michael, Chad E. Silverman and Matthew Harris

• What’s new: Senate Democrats have introduced a DeFi proposal that creates a new regulatory framework for decentralized finance platforms, focusing on preventing illicit finance and regulatory arbitrage by applying existing securities market requirements to DeFi.
• Why it matters: The DeFi

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