According to CoinDesk, the U.S. Senate is preparing to pass a new bill to regulate the cryptocurrency industry, which will impose strict anti-money laundering (AML) requirements on DeFi protocols. The bill also plans to require DeFi protocols to impose bank-like controls on their user base. “If no one controls a DeFi protocol, then anyone who invests more than $25 million in developing it will have those obligations,” the briefing document said. Additionally, these entities controlling DeFi are required to vet and collect information about their customers, maintain anti-money laundering programs, report suspicious activity to governments, and block sanctioned individuals from using their protocols.