DeFi Education Fund (fund-defi)

1/ Citadel got DeFi wrong. Today, DEF, a16z, The Digital Chamber, Orca Creative, J.W. Verret, and Uniswap Foundation wrote to the SEC in response to Citadel Securities' letter misrepresenting how DeFi technology works. Why this group? Citadel blatantly miscited us, and we feel obligated to correct the record.

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🚀 DEF’s fully redesigned brand and website is live today. DEF is the bridge between DeFi and public policy, and we built a cleaner, more intuitive, search-forward website for those looking to dig into DeFi policy. Take a look ➡️ https://www.defieducationfund.org/

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Wondering what a “front end” actually is? From read-only websites (Web1.0) to interactive websites (Web2.0) to front ends for permissionless networks (Web3.0), we have all experienced firsthand the evolution of how we access the internet. With the rise of Web3.0, we now must confront the core differences in how front ends work and what that means for law and policy. In a new article from @rebecca-r, @atuminelli, and Laz Pieper we provide a primer on both questions.

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Here is @atuminelli’s opening statement from today’s first ever DeFi hearing.

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“The same intuitive principle that governs our understanding of car manufacturer and driver liability should be the foundation of sensible policymaking in the context of decentralized networks and protocols.” Today, @a16zcrypto published a piece authored by DEF’s @millercwl & @atuminelli discussing why sound policymaking for crypto should always start from an analysis of “control” in a given system. 🧵 https://a16zcrypto.com/posts/article/doj-actions-against-defi/

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The Bank Secrecy Act (BSA) is a failure in traditional finance, yet recent legal theories being pushed by the DOJ are seemingly extending BSA’s burdensome framework to DeFi—ultimately, putting American innovation, privacy, and decentralization at risk. In a new article by DEF’s Gavin Zavatone & Henry Michaelson, we continue our exploration of the BSA. This latest paper focuses on why the BSA is ineffective and would cause existential harm to the DeFi industry. https://www.defieducationfund.org/post/examining-the-burdens-costs-and-failures-of-the-bank-secrecy-act-bsa-and-the-potentially-disast

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Today, DEF filed an amicus brief in support of dismissing the indictment against Roman Storm in US v. Storm. This case has broad implications for the future of this industry and software developers more generally. https://www.defieducationfund.org/_files/ugd/84ba66_063f9d1fd563466cadfa3f5434f918e9.pdf

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