DeFi Debrief: Week of February 16, 2026
February 23, 2026
OpenAI Launches Benchmarking System for DeFi Smart Contracts; Virginia Passes Key Digital Asset Legislation; and more.
OpenAI Launches Benchmarking System for DeFi Smart Contracts
On February 18, 2026, OpenAI, together with Paradigm, introduced EVMbench, a new benchmark that measures how well AI agents can detect, patch, and exploit high-severity smart contract vulnerabilities. As cybersecurity threats targeting smart contracts remain a focus for the future of digital assets markets, the benchmarking system and the AI agents can be used to evaluate model capabilities while strengthening protections for blockchain users.
Technology solutions like EVMbench help track emerging cyber risks and defensively help audit and strengthen deployed contracts. As DEF explained in a recent blog, developing cybersecurity standards for permissionless blockchain systems with industry expertise and support can help create effective solutions to protect consumers. Notably, the industry continues to build proactive solutions to guard against cyber and other related risks, including initiatives such as Security Alliance (SEAL) and the Beacon Network, launched by TRM Labs in 2025. For a more detailed discussion of cybersecurity risks and solutions available to address them, please see DEF’s recent submission to the Treasury Department here.
A detailed paper about EVMbench is available here.
Virginia Passes Key Digital Asset Legislation
Virginia House lawmakers advanced two pieces of digital asset legislation this month, signaling a continued effort to modernize its approach to digital assets and blockchain technology.
On February 6, HB798, the Virginia Disposition of Unclaimed Property Act, passed the Virginia House of Delegates with overwhelming bipartisan support, 96–2. The legislation establishes a statutory framework to incorporate digital assets into Virginia’s unclaimed property system and defines how they are treated upon disposition. Under the bill, intermediaries must report and transfer unclaimed digital assets to the Virginia Department of the Treasury, which assumes custody, liquidates the unclaimed assets through public sale, and holds the proceeds for rightful owners to claim.
On February 13, HB293, the Limited Liability Decentralized Autonomous Organization Act, passed in the Virginia House of Delegates by a 59-37 vote. The bill establishes a formal process for defining and incorporating a “Limited Liability Decentralized Autonomous Organization” (LLD), recognizing LLDs as a distinct legal entity that operates through decentralized governance.
Notably, in 2024, Wyoming advanced similar legislation for decentralized autonomous organizations (DAOs), allowing them to be recognized as “decentralized unincorporated nonprofit associations” (DUNAs). The advancement of HB293 signals an innovation-forward approach to clarifying the legal status of DAOs and provides organizations with more certainty to operate and grow in Virginia. For a more detailed analysis of DAOs, including their legal challenges and policy implications, please see DEF’s blog here.
DeFi Dictionary
Noncustodial communications technology is at the heart of DeFi. This week’s phrase of the week is a nod of appreciation to the innovation that helps enable peer-to-peer transacting: RPC Nodes.
Notable and Quotable
“[HB 293] shows true commitment to future-forward governance, accepting and adapting to the newest and most promising technologies available to Virginia citizens. For all of the reasons that a Limited Liability Corporation is so important to protecting operators and investors, this new LLD will offer the protections and powers necessary for on-chain businesses to grow and thrive.”
– Anastasia Dellaccio, Executive Director of State and Regional Affairs at theDigital Chamber in a statement to the Virginia House of Delegates Technology and Innovation Subcommittee
