The US government has launched a full-scale offensive against non-custodial decentralized finance (DeFi) services. Agencies including the Department of Justice (DoJ), Office of Foreign Asset Control (OFAC), and Securities and Exchange Commission (SEC) are targeting developers even if they don’t control user funds.
Significant actions include the indictment of Samourai Wallet founders and the international legal troubles of Tornado Cash developer Alexey Pertsev. The SEC has also issued Wells notices to Uniswap and Consensys, signaling potential enforcement actions.
These moves have caused some companies, like Phoenix Wallet and Wasabi Wallet, to exit the US market. The crackdown suggests a broader effort to control decentralized technologies, potentially stifling innovation and driving companies out of the US. This regulatory approach could reshape the future of decentralized finance.
