DEF’s March 2026 Recap
April 27, 2026
Below you’ll find a recap of what the DeFi Education Fund (DEF) was up to in March 2026. 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.
DEF and Beba Drop SEC Airdrop Challenge
On March 16, 2026, DEF and Texas-based apparel company Beba LLC voluntarily dismissed our lawsuit challenging the SEC’s treatment of free airdrops under former SEC Chair Gary Gensler without prejudice, allowing the suit to be refiled in the future. Originally filed in 2024, the case argued that the SEC had effectively treated free airdrops as securities transactions through enforcement actions rather than formal rulemaking with public notice and comment, violating the Administrative Procedures Act.
Why drop the case? DEF and Beba cited the recent shifts in the SEC’s approach, including statements from Commissioner Peirce and the work of the Crypto Task Force. The SEC’s March 17th interpretation explicitly clarified that token airdrops are not considered securities transactions, providing greater regulatory clarity for the industry.
DEF’s Executive Director Speaks at DC Blockchain Summit
On March 17, 2026, DEF’s Executive Director & Chief Legal Officer Amanda Tuminelli moderated a conversation about how to regulate DeFi without stifling innovation, featuring Stani Kulechov, Aave Labs, Rep. Warren Davidson (R-OH), and Evan Sui, Mysten Labs.
During the panel discussion, the speakers spoke about DeFi as an alternative to traditional finance, highlighted ongoing challenges within the space, and emphasized the need for these issues to be addressed through the market structure bill.
To watch a recording of the event, click here.
DEF Co-Signs Open Letter to U.S. Universities on DeFi Education
On March 18, 2026, DEF joined 1inch and industry partners in urging U.S. higher education institutions to further integrate digital assets, blockchain, and DeFi into business and legal curriculum.
As the letter notes, “By taking an active role in helping academic leaders empower their students, members of the DeFi community can help ensure that students not only learn about the theoretical underpinnings of decentralized finance but also have the practical skills to operate effectively within the dynamic decentralized financial ecosystem.”
You can read the letter here.
DEF Publishes 2026 Update on U.S. v. Storm
On March 24, 2026, DEF published a blog on the latest developments and what’s to come in U.S. v. Storm, the case against Roman Storm in the Southern District of New York. Last year’s trial resulted in a hung jury and a mistrial on the money laundering and sanctions evasion conspiracy charges, and prosecutors have since said they intend to retry the case. The case continues to serve as a key test of potential criminal liability for software developers.
Read the full blog here.
Explaining The Promoting Innovation in Blockchain Development Act
On March 9, 2026, DEF published a one-page explainer on the bipartisan Promoting Innovation in Blockchain Development (PIBDA).
The explainer provides an overview of what PIBDA does and delves into why the legislation is critical for software developers.
You can download and print the explainer here, and read a detailed analysis of PIBDA here.
March Financial Disclosures
| Donations Received | |
| Lobbyists | $45, 000 |
| Public Relations | |
| Policy Litigation | $877.50 |
| Marcomm & Fundraising | $871.35 |
| Operating Expense | $322,481.09 |
March Content and Media by DEF
Select Media
- Crypto in America: March Brings Another Shot at Clarity Act Markup as Stablecoin Talks Drag On
- “I think overall things are moving, and it feels like issues are being closed out, but DeFi has taken a backseat to the yield conversation,” Amanda Tuminelli, executive director of the DeFi Education Fund, told Crypto In America. “We’re waiting for Senate Banking to announce the next markup date and updated text, so I think everyone is anxiously awaiting to see what the next draft looks like.”
- Blockstories: CoinShares Expands Into Onchain Asset Management, Brings Multi-Asset Portfolios Onchain
- Why it matters: We spoke with Ayana Dow, Senior Counsel at the DeFi Education Fund, a Washington-based nonprofit focused on DeFi policy, to understand what this relief means for Phantom and why it matters for the broader DeFi landscape.
Blogs/Articles/Papers
