PANews reported on October 10th that Coinbase CEO Brian Armstrong, in a post on the X platform, stated that the US Senate Democratic Party's DeFi regulatory proposal would absolutely not be accepted. "It's a terrible proposal that, simply put, would hinder innovation and prevent the US from becoming the world's crypto capital." Brian Armstrong also retweeted a statement from Blockchain Association CEO Summer Mersinger, who described the US Democratic Party's DeFi regulatory proposal as completely unacceptable and would effectively ban decentralized finance, wallet development, and other applications within the US.