Opinion: US Treasury Exploring Inclusion of Identity Check in Smart Contracts Could Hollow DeFi Core
2025-08-24 10:23:42
The US Treasury is exploring whether identity checks should be incorporated directly into decentralized finance (DeFi) smart contracts, a move that critics warn could rewrite the very foundations of permissionless finance. Mamadou Kwidjim Toure, chief executive of Ubuntu Tribe, said the move, which looks like "putting cameras in every living room", could end up hollowing out DeFi's core by turning a neutral, permissionless infrastructure into one that requires government-approved credentials to access. However, proponents argue that building know-your-customer (KYC) and anti-money laundering (AML) checks into blockchain infrastructure could streamline compliance and keep criminals out.
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