US senator sounds alarm on DeFi, cites PancakeSwap amid market structure delay

Senator Elizabeth Warren has voiced concerns about decentralized cryptocurrency exchanges, specifically PancakeSwap and Uniswap, and has requested information from Treasury Secretary Scott Bessent and Attorney General Pam Bondi regarding potential investigations. In a letter, Warren highlighted national security risks and potential money laundering tied to North Korea, as well as concerns about improper political influence from the Trump administration. She emphasized the need for serious investigation as Congress considers crypto market structure legislation. The markup hearing for the Responsible Financial Innovation Act has been delayed until 2026. Warren also raised concerns about PancakeSwap promoting coins issued by World Liberty Financial, a crypto company linked to the Trump family. John Deaton, a lawyer who previously ran against Warren and advocates for XRP holders, has announced another run for Congress in 2026.

(Source：Cointelegraph)