A new bipartisan Senate bill would hold venture-capital firms and other large investors accountable in some cases for sanctions violations occurring on decentralized finance, or DeFi, platforms.
The legislation, aimed at preventing criminals from using DeFi for money-laundering and sanctions evasion, is co-sponsored by two Democrats — Jack Reed (R.I.) and Mark Warner (Va.) — and two Republicans — Mike Rounds (S.D.) and Mitt Romney (Utah).
If a sanctioned person — such as a Russian oligarch — uses a DeFi service to dodge US-imposed restrictions, then the person who controls the DeFi project would be held liable for facilitating the ...
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