Rule 29 and Rule 33 Motions: Post‑Trial Lifelines in Federal Criminal Cases
On August 6, 2025, a Manhattan jury delivered a partial verdict in United States v. Roman Storm , finding Storm, one of the Tornado Cash...| Defi Education
On August 6, 2025, a Manhattan jury delivered a partial verdict in United States v. Roman Storm , finding Storm, one of the Tornado Cash...| Defi Education
On September 8, 2025, the House Financial Services Subcommittee (HFSC) on National Security, Illicit Finance, and International Financial...| Defi Education
Week of September 22, 2025: New National Research from DEF & HFSC Hearings DEF and IPSOS Released New National Research On September 18,...| Defi Education
Below you’ll find a recap of what the DeFi Education Fund (DEF) has been up to in August 2025. If you have any questions or would like to learn more about a specific activity, please do not hesitate to reach out to contact@defieducationfund.org.Building a Historic Coalition to Advocate for Software Developer ProtectionsOn August 27, 2025, DeFi Education Fund and a coalition of 110+ organizations - including crypto and tech builders, investors, and advocates - submitted a letter to the Senat...| DeFi Education Fund
On March 21, 2025, the Treasury Department’s Office of Foreign Assets Control (OFAC) officially announced the delisting of Tornado Cash from its Specially Designated Nationals (SDN) and Blocked Persons List following years of litigation on the issue. The Department has announced the delisting of the Tornado Cash front-end website, as well as smart contracts making up the protocol but did not delist developer Roman Semenov. The DeFi Education Fund (DEF) commends the Treasury Department and...| DeFi Education Fund
The DeFi Education Fund (DEF) explains decentralized finance (DeFi) to policymakers around the world and advocates for policies welcoming of decentralized financial infrastructure.| DeFi Education Fund
Week of September 15: Market Structure Draft from Senate Banking; New SEC Rulemaking Agenda; HFSC Hearing Senate Banking Committee...| Defi Education
On September 4, 2025, the Securities and Exchange Commission (SEC) publicly released its Spring 2025 Unified Agenda of Regulatory and...| Defi Education
Week of September 8, 2025: New Draft of Market Structure; New DEF Amicus Brief; SEC Rulemaking Agenda; CFTC & SEC Joint Statement; Letter...| Defi Education
On Wednesday, September 3, 2025, DEF and the Solana Policy Institute (SPI) submitted an amicus brief in support of Uniswap Labs and...| Defi Education
Week of September 1, 2025: New DEF Coalition Letter; DEF Blog on No-Action LettersDEF Leads Coalition Letter to Senate on Software Developer ProtectionsOn August 27, 2025, DeFi Education Fund led a coalition of 110+ organizations - including crypto and tech builders, investors, and advocates - in submitting a letter to the Senate Banking and Agriculture Committees explaining the need to include explicit protections for software developers in market structure legislation. This is the larges...| DeFi Education Fund
Dear Members of the Senate Committee on Banking and Committee on Agriculture: We are united in our commitment to protecting the software...| Defi Education
Since the Securities and Exchange Commission (SEC) announced its Crypto Task Force and signaled it was open to productive conversations...| Defi Education
Week of August 25, 2025: DOJ on Section 1960; Treasury RFC; Paradigm Submission on DeFi; Uniswap Foundation Proposal; SEC Speech Acting...| Defi Education
On July 30, 2025, the President’s Working Group on Digital Asset Markets (PWG) released its long-awaited report titled “ Strengthening...| Defi Education
Week of 8/18/25: Letter from DEF; DEF & a16z Safe Harbor Submission; Verdict in Storm; PWG Report; SEC' Project Crypto; CFTC's 'Crypto...| Defi Education
Below you’ll find a recap of what the DeFi Education Fund (DEF) has been up to in July 2025. If you have any questions or would like to learn more about a specific activity, please do not hesitate to reach out to contact@defieducationfund.org.Continuing to Support Roman Storm On July 14, 2025, Roman Storm’s trial began in Manhattan. The case has the potential to set precedent on whether software developers can be held legally responsible for how others use their code. We published a blog...| DeFi Education Fund
We are thrilled to announce the launch of the DeFi Education Foundation (DEF) — a newly launched 501(c)(3) nonprofit dedicated to...| Defi Education
For the PDF version of the letter, please click here . Friends and Supporters, I’m thrilled to be writing to you from my new role as...| Defi Education
We are happy to share that on August 12, 2025, Andreeson Horowitz (“a16z”) and DeFi Education Fund (“DEF”) jointly submitted a proposal ...| Defi Education
A guest post by Jason Schwartz , Tax Partner, CahillNXT TLDR . If you have long-term appreciated crypto, donating the tokens directly to...| Defi Education
On August 1, 2025, the DeFi Education Fund (DEF) submitted our response to the Senate Banking Committee’s Digital Asset Market Structure...| Defi Education
Today, SEC Chairman Paul Atkins gave a speech entitled – “American Leadership in the Digital Finance Revolution” – and the speech title alone is a significantly positive tide change signal. In the speech, Chair Atkins also highlighted the benefits of DeFi. Below, you can find a few of our favorite quotes from his speech: • “As I have said before, the right to have self-custody of one’s private property is a core American value. I believe deeply in the right to use a self-custod...| DeFi Education Fund
Today, DeFi Education Fund (DEF) is thrilled to announce that Ayana Dow and Talia Davis have joined the organization. Ayana joins DEF as Senior Counsel, where she will advise on regulatory matters, proposed rulemakings, and legislation. Talia Davis will serve as Vice President of Government Relations, leading DEF’s advocacy efforts on Capitol Hill.Digital asset policy is continuing to develop at a rapid pace in D.C. and abroad, and with this unprecedented momentum, DEF’s work has never b...| DeFi Education Fund
On Friday, July 18, 2025, President Trump officially signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025 into law. The stablecoin framework is the first tailored regulatory structure for digital assets in U.S. history and provides clear rules for stablecoin issuers. The GENIUS Act sets requirements for reserve backing, transparency, consumer protection, and compliance with anti-money laundering laws, while also creating pathways for federal ...| DeFi Education Fund
As we celebrate ‘Crypto Week’ in the U.S. House of Representatives, the DEF team has compiled a blog post looking at the potential implications for DeFi in the latest text of the CLARITY Act, which was recently advanced by the House Rules Committee to the House floor for votes.This latest draft of market structure legislation represents meaningful progress towards achieving greater regulatory clarity and critical protections for DeFi developers, users, and technology in the United Stat...| DeFi Education Fund
In August 2023, developers of the Tornado Cash protocol, Roman Storm and Roman Semenov, were indicted by the U.S. Department of Justice (DOJ) on several charges, including conspiracy to commit money laundering, conspiracy to violate sanctions, and conspiracy to operate an unlicensed money‑transmitting business. Storm pleaded not guilty to the charges, explaining that he “is a developer, and his only agreement, together with the members of his U.S.-based company, was to build software s...| DeFi Education Fund
On July 9, 2025, The Senate's Banking, Housing, and Urban Affairs Committee held a hearing entitled: “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.” The witnesses included Dan Robinson, General Partner, Paradigm; Summer Mersinger, CEO, Blockchain Association; Jonathan Levin, CEO, Chainalysis; Brad Garlinghouse, CEO, Ripple; Timothy Massad, former CFTC Chairman; and Richard Painter, former Associate Counsel to the President and chief White House ethics lawyer.The c...| DeFi Education Fund
On July 7, 2025, DEF, Paradigm, Bitcoin Policy Institute, Blockchain Association, Crypto Council for Innovation, Digital Chamber of Commerce, Solana Policy Institute, and the Uniswap Foundation, filed an amicus brief in Michael Lewellen v. Pamela Bondi in support of Lewellen’s opposition to the DOJ’s motion to dismiss. As a quick refresher, in Jan. 2025, Michael Lewellen filed a preemptive lawsuit against the DOJ for capriciously prosecuting noncustodial software developers as money tran...| DeFi Education Fund
Week of June 30, 2025: Senate Banking on Market Structure; Deploying American Blockchains Act; BSA Modernization; DEF UpdatesSenate Banking Committee Holds Hearing on Digital Asset Market Structure Legislation On June 24, 2025, the Senate Banking Committee Digital Assets Subcommittee held a hearing entitled: “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure.” DEF was represented by Board Member Greg Xethalis, General Counsel at Multicoin Capital. The other w...| DeFi Education Fund
YESTERDAY, Tuesday, June 17, 2025, the United States Senate officially passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025 with a bipartisan supermajority vote of 68-30. The GENIUS Act aims to establish a federal framework for the issuance and regulation of payment stablecoins in the U.S.. It sets requirements for reserve backing, transparency, consumer protection, and compliance with anti-money laundering laws, while also creating pathways for...| DeFi Education Fund
Week of June 16, 2025: SEC Roundtable on DeFi; CLARITY Act Markup; CFTC Nomination Hearing; DEF Submits Expert Opinion in Alexey Pertsev Trial; SEC Drops "Exchange" Rulemaking; GENIUS Act UpdateSEC Crypto Task Force Hosts Roundtable on DeFi On June 9, 2025, the Securities and Exchange Commission (SEC) Crypto Task Force hosted its final roundtable event titled “DeFi and the American Spirit.” The roundtable brought together voices from across the digital assets industry to discuss the fut...| DeFi Education Fund
On May 5, 2025, the House Financial Services Committee (HFSC) and House Agriculture Committee (House Ag) released draft legislation establishing a digital asset market structure. The discussion draft was introduced by House Ag Chairman G.T. Thompson (R-PA), HFSC Chairman French Hill (R-AR), HFSC Digital Assets Subcommittee Chair Bryan Steil (R-WI), and House Ag Digital Assets Subcommittee Chair Dusty Johnson (R-SD), and would establish a regulatory framework for digital assets in the United...| DeFi Education Fund
Today, April 18th, 2025, DeFi Education Fund (DEF) submitted Guiding Principles for a Token Safe Harbor Framework to the Securities and Exchange Commission (SEC) Crypto Task Force. A safe harbor is a legal framework that shields good-faith actors from certain liability or penalties under defined conditions, offering regulatory clarity and peace of mind to market participants.DEF’s submission is in response to Commissioner Peirce’s February 2025 Request for Information, which seeks input...| DeFi Education Fund
OverviewIn March 2025, the Treasury Department’s Office of Foreign Assets Control (OFAC) delisted the Tornado Cash smart contracts from its Specially Designated Nationals (SDN) list. The announcement came after the Fifth Circuit Court of Appeals ruling in Van Loon v. Department of Treasury that Tornado Cash smart contracts are not property or interests in property under the International Economic Emergency Protections Act (IEEPA) and that OFAC had overstepped its regulatory authority in is...| DeFi Education Fund
The DeFi Debrief Week of March 18Bipartisan Supermajority in the House Passes “Broker” CRAOn March 11, a bipartisan supermajority in the House of Representatives passed H.J. Res. 25, a joint resolution introduced by Representative Mike Carey (R-OH) to disapprove of the DeFi portion of the Internal Revenue Service’s (IRS) “Broker Rule.” The resolution passed the House 292-132, with 76 Democrats voting for the legislation.On March 4, the Senate also passed companion legislation, which...| DeFi Education Fund
Bipartisan Supermajority in the Senate Passes “Broker” CRAWhat happened? On March 4, 2025, the Senate voted on S.J. Res. 3, a joint resolution of disapproval of the DeFi portion of the Internal Revenue Service’s (IRS) “Broker Rule.” The resolution leverages the Congressional Review Act, which allows Congress to disapprove of recently finalized regulations. In a heavily bipartisan 70-27 vote, the resolution passed. As a refresher, on December 27, 2024, the Treasury Department & IRS...| DeFi Education Fund
Risley v. Uniswap Ruling Carries Massive Implications for DeFiWhat happened?On February 26, the Second Circuit Court of Appeals affirmed the District Court’s ruling in Risley v. Uniswap Labs, which held that neither Uniswap Labs nor its developers could be held liable for plaintiffs’ losses in connection with trading “scam tokens” on the Uniswap platform. The case was brought by a group of private plaintiffs alleging that Uniswap, along with their venture capital investors (VC defenda...| DeFi Education Fund
Please click here to access a PDF version of this article IntroductionOn February 5, 2025, the Senate Banking Committee held a hearing focused on investigating the impacts of debanking in America. The hearing highlighted a strong bipartisan interest in protecting Americans’ access to inclusive and affordable financial services. The hearing also dove into anti-money laundering (AML) policy and its relationship to debanking; there was substantial discussion on the efficacy and costs of the A...| DeFi Education Fund
On February 21, 2024, LEJILEX and the Crypto Freedom Alliance of Texas (“CFAT”) announced that they brought a pre-enforcement challenge against SEC. In this blog post, we explore what a pre-enforcement challenge is and why LEJILEX and CFAT went down this road, the details of the suit, what success for LEJILEX and CFAT looks like, and the implications of this action for the digital asset industry in the United States. Let’s dive in. What is a Pre-Enforcement Challenge?A pre-enforceme...| DeFi Education Fund
