Nonpartisan, nonprofit advocating for sound DeFi policy & to protect software developers. DeFi Debrief: defieducationfund.substack.c…
Washington, DC
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Today, a coalition of 100+ signatories join DEF in sending a letter to Congress.
Software developer protections are a non-negotiable in digital asset market structure legislation. This critical issue unites us — crypto and tech builders, investors, and advocates.
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DeFi Education Fund retweeted
SEAL Frameworks are now in the @fund_defi OPSeC Repository!
AI security, prompt injection, data exfiltration, sandboxing, security awareness, etc.
Free, chain-agnostic guidance that builders and policymakers can both use.
opsec.defieducationfund.org/…
Better-informed policy is good for everyone building in this space. OPSeC gives our industry a way to make that happen by curating free security resources, hosting educational events, and ensuring technical frameworks reach the policymakers who need them.
Learn more: defieducationfund.org/defi-e…
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DeFi Education Fund retweeted
There are so many great @HesterPeirce quotes, but today I am particularly grateful for her distillation of what DeFi is and why it matters.
But even with privacy, self-custody, and tech neutrality, Commissioner Peirce always was the best at articulating the principle of the thing while staying faithful to the securities laws.
A million thank yous wouldn’t be enough for her service.
2/ When she explained the very spirit of DeFi…
“At its core, DeFi, which blockchain technology enables, is about the freedom to transact with your peers without permission, interference, or intermediation.”
… and then outlined what DeFi actually is:
sec.gov/newsroom/speeches-st…
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1/ In honor of Commissioner Peirce’s last day at the SEC, the DEF team wanted to take a moment to honor her legacy. Commissioner Peirce’s artfully-named speeches and thoughtfully-crafted dissents provide clear, compelling explanations on why decentralization matters and how innovation makes markets more resilient and accessible.
Some of our favorite Commissioner @HesterPeirce moments 👇
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6/ When she consistently stood firm on her principles, even when she stood alone in an administration that was deeply unfriendly to new technologies:
sec.gov/newsroom/speeches-st…
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7/ For years to come, people will be able to point to Commissioner @HesterPeirce as an example of what a principled, intellectually serious leader looks like.
THANK YOU, Commissioner Peirce, for your innumerable service and contributions.
sec.gov/newsroom/speeches-st…
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DEF submitted a response to the EU’s MiCA Review.
In it, DEF asks EU regulators to ensure three key protections:
👉 Protect developers. People who write and publish software should not be subject to regulatory obligations or inherit liability for how third parties use their software, or be classified under regimes that do not describe the activities they actually perform.
👉 Protect user autonomy. Self-custody and privacy-enhancing technology should be clear, affirmative, enforceable rights, not features that cost users their protections.
👉 Protect permissionless infrastructure. Definitions should be accurate and technology-neutral, and should preserve the line between non-custodial software and the intermediaries that control customer assets.
MiCA has a head start in clarifying the line between control and code, and we encourage the Commission to ensure these same standards apply as they build their report and consider any future amendments to MiCA.
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You can read a blog post with details about DEF's response here:
defieducationfund.org/regula…
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DeFi Education Fund retweeted
The EU is reconsidering how MiCA should apply to DeFi. The line it draws now could shape how developers build and users access decentralized technology across Europe for years. Today @fund_defi submitted our response with a simple principle: regulate intermediaries, not code.
MiCA already points in the right direction. Recital 22 recognizes that fully decentralized services without an intermediary fall outside its scope, while Recital 83 protects non-custodial software wallets.
Our response urges the EU to preserve and strengthen that distinction: protect developers, self-custody, privacy, and permissionless infrastructure; reject protocol certification regimes; and treat decentralization fundamentally as a question of control.
Software that does not custody assets, control transactions, or control the underlying protocol should not be regulated as though it were a financial intermediary.
Read the summary of our response here: defieducationfund.org/regula…
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It's @kbwofficial!
DEF's CEO & CLO @amandatums will be on the ground discussing all things DeFi this week in Seoul. 👇
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If you're in Seoul this week, make sure to find DEF's CEO & CLO @amandatums.
On Tuesday, she'll be chatting with @USTreasury Senior Advisor, Jonathan Hurowitz about the Treasury's role implementing the GENIUS Act, and much more.
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Latest DeFi Debrief is live!
One highlight:
👉 On Sept. 16, the UK Financial Conduct Authority (FCA) published Policy Statement PS26/18: Cryptoasset Perimeter Guidance, setting out guidance on when cryptoasset activities require FCA authorization under the UK’s new regulatory regime.
defieducationfund.substack.c…
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Latest DeFi Debrief is live!
Featured: DEF and @a16z submitted a joint letter to the SEC Crypto Task Force proposing a safe harbor from exchange registration requirement of the Securities Exchange Act of 1934 for DEXs and certain apps that provide access to them (DEX apps).
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Read more on @substack here (and be sure to subscribe to the DeFi Debrief - DEF's weekly crypto and DeFi policy newsletter).
defieducationfund.substack.c…
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DeFi Education Fund retweeted
Thank you for everything - from the dissents that gave us hope that things might change to the realization of that change with the task force, we @fund_defi are so grateful for your work.
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DEF’s policy lead @glzavatone on the SEC’s recently published FAQ 👇
Today, the @SECGov released new FAQs on the application of the federal securities laws to crypto assets. The guidance gives developers and builders greater room to build, develop, and decentralize blockchain networks and DeFi systems in the United States.
Q2.3 makes clear that once a crypto system is functional, ongoing maintenance, upgrades, development funding, improvements, and efforts to grow network effects do not constitute “essential managerial efforts” under Howey.
Q2.4 goes even further: once a functional crypto system has no central party, statements by the issuer relating to the system likely would not create a new investment contract because no person controls the system in a way that determines its success or failure.
This is a MAJOR step forward for builders of blockchain networks and DeFi systems, and a huge validation of arguments talented lawyers have been making for years about decentralization, ongoing development, and the application of the securities laws to decentralized technology.
Link to FAQ here: sec.gov/about/divisions-offi…
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DeFi Education Fund retweeted
a16z and DeFi Education Fund ask @SECGov to exempt DEX protocols from Exchange Act registration via safe harbor to @HesterPeirce. a16z also proposes ATS-style framework for centralized platforms.
Read more here:
thedefiant.io/news/regulatio…
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