DeFi Education Fund

Today, Amanda Tuminelli appeared before Congress in their first ever hearing on DeFi. She spoke on a plethora of topics including why the IRS's broker rule is incompatible w/ DeFi, the SEC's misguided "exchange" rulemaking, and the need for legal clarity for DeFi developers in the U.S. Check out her opening remarks below.

It’s no secret. The Bank Secrecy Act (BSA) has been a mainstay of policy debates around crypto more broadly in the United States. The BSA, a law from the 1970s that is a central instrument in government surveillance of American financial transactions, had no way of foreseeing the rise of the internet and the ability to transact without traditional intermediaries. That is why DEF's Lizandro Pieper and Gavin Leo Zavatone decided to do a deep dive on this topic. In this new paper, the authors investigate the history and design of the BSA, its application to crypto, and explain why software providers and operators across the technology stack are not subject to the BSA. Furthermore, the paper argues why it is necessary for Congress to step in and clarify that the BSA is not applicable across the blockchain technology stack and enact something into law in the spirit of Representative Emmer’s Blockchain Regulatory Certainty Act and Representative Davidson’s KYC Act. Check out the full paper at the link: https://lnkd.in/e-gkC9AP

What does the recent TD Bank settlement demonstrate to us about the U.S.'s AML/CFT policies? DEF Policy Intern Gavin Leo Zavatone breaks it down in the latest addition to the DEF blog. https://lnkd.in/ewXj7drJ

We are honored to join Kentucky, Nebraska, and 16 other States, in a lawsuit against the SEC to clarify the law related to digital assets and prevent the SEC from “continuing its unlawful campaign of regulatory overreach” in crypto. DeFi, and crypto broadly, promises to make financial services and the digital economy more accessible, efficient, interoperable, dependable, and consumer-focused. The SEC currently stands as a barrier to realizing this promise. We are grateful to the states of Kentucky, Nebraska, Tennessee, West Virginia, Iowa, Texas, Mississippi, Montana, Arkansas, Ohio, Kansas, Missouri, Indiana, Utah, Louisiana, South Carolina, Oklahoma, and Florida who chose to take this step and push back against the SEC. https://lnkd.in/etkrprjY

🚀 Spring 2025 Legal Internship Opportunity 🚀 Are you a law student passionate about the future of DeFi and crypto broadly, and looking to gain hands-on experience? Look no further than DEF's Spring 2025 legal internship https://lnkd.in/eqHybKBv To apply, please share a resume, cover letter, and transcript to max@defieducationfund.org

On our latest podcast episode Amanda Tuminelli, Chief Legal Officer at DeFi Education Fund, joins us to talk about the recent congressional hearing on DeFi, lawsuits she's filed against the SEC, and what we can expect with the upcoming U.S. election. Tune in at the links below:

We are incredibly appreciative for all the amicus briefs submitted in our and Beba's case against the SEC. Thank you to a16z crypto Blockchain Association, Coinbase, Coin Center, Crypto Council for Innovation, Investor Choice Advocates Network, Multicoin Capital, Paradigm, Texas Blockchain Council, Union Square Ventures, and Variant. All together, the amici provide important perspectives to the court highlighting why the SEC's approach to airdrops and its regulation by enforcement campaign against the industry are unlawful and must be stopped.

We are thrilled to announce that the University of Miami Law Review will host its annual symposium on February 14, 2025. This year’s topic, "Navigating the Relationship Between the Administrative State and Emerging Technology," will explore the ever-changing regulatory landscape around digital assets and AI. We invite you to join us for an engaging day of discussion with our incredible panelists. More details to come, hope to see you there!

‼️ Job Opportunity ‼️ The DeFi Education Fund is seeking a Chief of Staff to provide strategic advice and support directly to the Chief Executive Officer, as well as serve as a resource and unifying force across the organization. The ideal candidate will have significant experience working in business management, executive management, an “ownership mentality,” and superb organizational skills. If you are a seasoned professional, interested in getting involved in DeFi & DeFi policy, and want to work with an incredibly dedicated and talented group of individuals, then this is the opportunity for you. For more information on the role and instructions on how to apply, check out the job description at the link below. https://lnkd.in/e9VYvapg #hiring #jobalert #joinourteam #jobopening

The SEC finally admitted what we’ve known all along: “Crypto asset security” was a made-up term with no legal basis. The SEC moved to amend its complaint in the Binance case and its footnote signals a major retreat in its regulation by enforcement campaign against the digital asset industry. Opinion by Jake Chervinsky and Amanda Tuminelli https://lnkd.in/ebtQtYv4