PANews August 24 news, the U.S. Treasury Department is exploring whether to incorporate identity checks directly into decentralized finance (DeFi) smart contracts. Critics warn that this move could rewrite the fundamental basis of permissionless finance. Ubuntu Tribe CEO Mamadou Kwidjim Toure stated that this initiative seems like 'installing cameras in every living room,' and could ultimately undermine the core of DeFi, as it transforms a neutral, permissionless infrastructure into one that requires government-approved identity credentials for access. However, supporters argue that establishing Know Your Customer (KYC) and Anti-Money Laundering (AML) checks within blockchain infrastructure can simplify compliance and keep criminals at bay.