The Senate Is Gutting DeFi Protections and Nobody's Reading the Edits | Trust Issues 004
Welcome to Trust Issues--
Year-end episode. Alex and Emily close out 2025 by looking back at every major piece of crypto legislation that passed, stalled, or got butchered this year.
The Clarity Act gets the spotlight. It started as FIT-21, passed the House, got vetoed by Biden, then came back repackaged. The House version actually had decent DeFi protections. The Senate version is carving those out, and the specific language being added targets the front end of DeFi protocols with compliance requirements that would effectively gut how they work.
Emily flags the deeper problem: crypto is…
The skinny
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