The DeFi Education Fund urges the US Senate Banking Committee to reconsider its approach to regulating decentralized finance, advocating for a more tech-neutral stance that protects crypto developers and self-custody rights. The Committee welcomed the feedback on the Responsible Financial Innovation Act and the Digital Asset Market Clarity Act.

The DEF also calls for updates to FinCEN guidance in light of the Roman Storm case and federal preemption of state laws to ensure consistent protections for crypto developers nationwide. A16z Crypto criticizes the draft crypto bill for potentially undermining investor protections by creating loopholes, particularly through its treatment of “ancillary assets,” and advocates for a “digital commodity” model with clear decentralization requirements.

Read more at Cointelegraph: DeFi Education Fund Gives Advice To Senate On Crypto Market Bill