DeFi Education Fund

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DeFi Education Fund

DeFi Education Fund

@fund_defi

We do policy and advocacy work to help DeFi flourish. Want to donate? https://t.co/ziwR8SzsRG Blog: https://t.co/0QCpN3bCWR

Washington, DC Katılım Haziran 2021
276 Takip Edilen16.8K Takipçiler
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DeFi Education Fund
DeFi Education Fund@fund_defi·
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
DeFi Education Fund@fund_defi·
ICYMI: DEF submitted a letter to the SEC Crypto Task Force, responding to their request for information regarding “National Securities Exchanges and Alternative Trading Systems Trading Crypto Assets” DEF’s Senior Counsel shares deetz 👇
Ayana Dow@_ayanadow

We (@fund_defi) submitted a letter in response to the SEC’s RFI asking for thoughts on "exchanges" and crypto ATSs. TL;DR: don't misclassify DeFi technology and devs that aren't actually performing "exchange" functions. We urge the Commission to: 1️⃣ Adopt a functional test for an exchange "facility” so only those actually performing exchange functions are in scope, and not disintermediated software, AMMs, smart contracts, or developers. 2️⃣ Avoid an overly broad reading of a “group of persons" constituting an "exchange." Where there’s no shared intent or control over exchange functions, developers/entities shouldn’t be treated as an exchange just because their software is used by one. Bottom line: DeFi tools that provide liquidity or run autonomously aren’t performing exchange functions and neither the tech nor its devs should be regulated as exchanges. Full letter: sec.gov/files/ctf-writ…

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Axia Network
Axia Network@AxiaNetwork0x·
@fund_defi Love it. Please also create a Linkedin post so we can share it on there for maximum TradFi reach. 🙏
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DeFi Education Fund retweetledi
Amanda Tuminelli
Amanda Tuminelli@amandatums·
Just calling something a securities "exchange" doesn't make it one. "Exchange" status actually turns on function and control—not just access to trading software. Our letter to SEC Crypto Task Force unpacks getting the definition right for DeFi devs and tech.
Ayana Dow@_ayanadow

We (@fund_defi) submitted a letter in response to the SEC’s RFI asking for thoughts on "exchanges" and crypto ATSs. TL;DR: don't misclassify DeFi technology and devs that aren't actually performing "exchange" functions. We urge the Commission to: 1️⃣ Adopt a functional test for an exchange "facility” so only those actually performing exchange functions are in scope, and not disintermediated software, AMMs, smart contracts, or developers. 2️⃣ Avoid an overly broad reading of a “group of persons" constituting an "exchange." Where there’s no shared intent or control over exchange functions, developers/entities shouldn’t be treated as an exchange just because their software is used by one. Bottom line: DeFi tools that provide liquidity or run autonomously aren’t performing exchange functions and neither the tech nor its devs should be regulated as exchanges. Full letter: sec.gov/files/ctf-writ…

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DeFi Education Fund
DeFi Education Fund@fund_defi·
Dear TradFi, We have read your press releases for new crypto integrations, pilots, and tokenized funds. We have listened to your earnings calls about transformative partnerships and blockchain-based future of finance experiments. We know that your strategic offsites are resulting in exciting new onchain finance product roadmaps and business strategies. And to that we say: welcome! And, also, if you're going to use it or profit from it, help protect the people building it. With Love, DeFi Education Fund
DeFi Education Fund@fund_defi

x.com/i/article/2039…

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Ayana Dow
Ayana Dow@_ayanadow·
We (@fund_defi) submitted a letter in response to the SEC’s RFI asking for thoughts on "exchanges" and crypto ATSs. TL;DR: don't misclassify DeFi technology and devs that aren't actually performing "exchange" functions. We urge the Commission to: 1️⃣ Adopt a functional test for an exchange "facility” so only those actually performing exchange functions are in scope, and not disintermediated software, AMMs, smart contracts, or developers. 2️⃣ Avoid an overly broad reading of a “group of persons" constituting an "exchange." Where there’s no shared intent or control over exchange functions, developers/entities shouldn’t be treated as an exchange just because their software is used by one. Bottom line: DeFi tools that provide liquidity or run autonomously aren’t performing exchange functions and neither the tech nor its devs should be regulated as exchanges. Full letter: sec.gov/files/ctf-writ…
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DeFi Education Fund
DeFi Education Fund@fund_defi·
DeFi continues to move into the policy spotlight. This latest DeFi Debrief highlights a new CRS primer on DeFi, covering core technology, major applications, and key regulatory challenges for decentralized systems. Check it out: defieducationfund.org/defi-debrief-w…
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DeFi Education Fund
DeFi Education Fund@fund_defi·
GM! This week's DeFi Debrief unpacks the latest from the CFTC, HFSC, CRS (and spells out all these acronyms). Read the latest from DEF to catch up on crypto & DeFi policy news here: open.substack.com/pub/defieducat…
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DeFi Education Fund
DeFi Education Fund@fund_defi·
Another great exchange. @RepBryanSteil: "We can't discuss tokenization without talking about decentralization and the innovation happening in DeFi. You have a lot of background experience in this space. The lack of the intermediation, the lack of intermediation poses some really novel legal and regulatory questions for trading and custody of securities. It really, in some ways, spins on its head, our framework with which we've thought through this over the past 100 years. Can you just comment how decentralized exchanges complement OR can coexist alongside the traditional market structure, and what are the benefits of a decentralized trading?" @SummerMersinger: "Thank you for that question. And, I just want to make sure when we talk about DeFi, what we are talking about is permissionless, non-custodial, non-discretionary code. So, this is a technology that's going to improve the markets. It's going to bring faster settlement. It's going to reduce costs, because there's not the intermediaries, and just like with electronic trading, these technologies can operate side-by-side in a regulated space, and eventually you'll see the evolution of the markets going to the more efficient system, such as using DeFi for these trades, so I think what you'll see is more efficiency from them, lower costs, and really less risk because of the settlement time."
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DeFi Education Fund
DeFi Education Fund@fund_defi·
Great exchange. Chairman @RepFrenchHill: “... tell us what role decentralized finance can play in that broader Tokenization ecosystem, what do DeFi tools provide to markets and investors?” @SummerMersinger: “Thank you for the question. And when I talk about DeFi, what I'm talking about is non-custodial, non-discretionary code, and it provides the way for the market to move, for the asset to move, to settle, to be traded. It's really the plumbing. It's the infrastructure of the market, and -- it takes away -- there's a lot of efficiencies involved. You remove a lot of intermediaries that add cost to the trade, and it allows for more, broader access to the markets.”
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DeFi Education Fund
DeFi Education Fund@fund_defi·
During today's @FinancialCmte hearing, @SummerMersinger from @BlockchainAssn highlighted the importance of distinguishing between intermediaries and tech infrastructure: "Ensuring that DeFi systems receive appropriately tailored equivalent consideration by the SEC, and are not inappropriately subjected to intermediary-based compliance regimes, will be critical to preserving their role as open, neutral infrastructure, while maintaining appropriate oversight of activities that present traditional financial risks."
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DeFi Education Fund
DeFi Education Fund@fund_defi·
DOJ is pushing forward with its case in U.S. v. Storm, continuing to test the limits of how criminal law applies to software developers. Our latest blog breaks down what’s changed, what arguments are being made, and what’s at stake 👇 defieducationfund.org/u-s-v-storm-20…
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The Wall Street Journal
The Wall Street Journal@WSJ·
Welcome to the new tech flex. People with zero tech experience are adding “builder” to their LinkedIn profiles and boasting about their apps and agents. on.wsj.com/3PfBTQh
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Keşfet

@AxiaNetwork0x @Blockworks @RebeccaRettig1 @xethalis @millercwl @blockworksDAS @RepBryanSteil @SummerMersinger