Amanda Tuminelli (atuminelli)

Front ends for web2.0 ≠ Front ends for web3.0. If the US wants to write rules that in any way touch on front ends for blockchains and protocols-that actually work in reality-the rules must account for differences from web2.0 websites. Read more from @rebecca-r, Laz Pieper and me below + check out our summary chart of the key distinguishing characteristics of each.

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Today, I share a mid-year letter explaining the important work that @fund-defi has been doing since January. I’ve been thinking a lot about DEF's unique position as the only DeFi-focused, nonpartisan nonprofit research & advocacy org at this particular moment in digital asset policy 👇

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The DOJ's charge against the Samourai Wallet devs is based on an incorrect interpretation of Section 1960. Even though the court denied the request to allow amicus briefs in the case, we @fund-defi and @blockchainassn will keep advocating for the correct interpretation - only those with control over customer assets are money transmitters. We will keep beating this drum.

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It was an honor to advocate on behalf of DeFi developers and users in front of the House Financial Services Subcommittee on Digital Assets today. I was grateful to sit next to the extremely talented experts @rebecca-r, @valkenburgh and Brian Avello.

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Today @fund-defi and @blockchainassn filed an amicus brief in support of a challenge to the SEC’s Consolidated Audit Trail (CAT), arguing that the CAT, especially when it pertains to the digital asset sector, “unacceptably undermines privacy and personal freedom.” ICYMI, the CAT is the largest database of securities txs ever created and will include personally identifiable information on every retail brokerage customer in the U.S. Given the SEC’s position that digital asset market participants are exchanges, brokers, and/or dealers, the SEC may force them to comply with CAT reporting requirements. The result, which we warn the court about, is that the CAT could connect personally identifiable user info with wallet addresses, providing the government with more tools to track user financial activity for all time. This info would then be at the disposal of the government, creating unprecedented privacy concerns. https://www.defieducationfund.org/_files/ugd/84ba66_38222aa7b44f4e7392f0b9b22bf82039.pdf

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The DOJ's opposition to Roman Storm's motions to dismiss and suppress evidence in the Tornado Cash case is filled with technical inaccuracies, obvious disdain for privacy and emerging technology, and misapplication of the law. A few of the egregious statements in the 111-page brief in this thread 👇

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We @fund-defi wrote 5 guiding principles for the SEC Crypto Task Force to consider as they implement a Token Safe Harbor for projects *intending to decentralize*, which include proposed eligibility and exit criteria. Check it out and tell us what you think in our feedback form linked below. https://www.defieducationfund.org/post/defi-education-fund-submits-guiding-principles-for-token-safe-harbor-to-sec-crypto-task-force

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