DEF’s May 2026 Recap
June 17, 2026
Below you’ll find a recap of what the DeFi Education Fund (DEF) was up to in May 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.
CLARITY Act Markup & Anti-DeFi Amendments
On May 14, 2026, the Senate Banking Committee advanced H.R. 3633—The Digital Asset Market Clarity Act of 2025—out of committee with a bipartisan 15-9 vote. Senators Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) joined the Republican majority in support of the legislation. As Chairman Scott (R-SC) emphasized in his opening statement, the legislation “brings digital assets out of the shadows and into a system that is safer, fairer, and more transparent.”
Prior to the markup, Senators filed more than 100 amendments ahead of the May 14th markup. DEF reviewed the amendments, and then compiled a list of anti-DeFi amendments; you can see the full list of anti-DeFi amendments on X.
Notably, amendment #122 introduced by Senator Lummis, but reflecting a bipartisan agreement with Committee Democrats, removed protections from Section 301 that made it explicit that rulemakings under that provision would not apply to non-controlling blockchain developers. While it is extremely positive that this bill will advance with bipartisan support, this compromise was a net-negative outcome for software developers.
Ongoing Educational Efforts on CLARITY Act
On May 13, 2026, DEF’s Policy Lead, Gavin Zavatone joined a group of industry fold for a lunch briefing with Hill staff. Gavin spoke about the specific sections in Clarity Act that touch software developers, self-custody, and decentralized tools and technology, more broadly, including the BRCA and Title 3.
On May 20, 2026, DEF’s CEO & CLO, Amanda Tuminelli, joined industry leaders in an X space hosted by Stand With Crypto to chat about what is next for the CLARITY Act. As Amanda noted: “It’s really important that we continue to hold the line on developer protections. I think that there is some more work to be done there, but overall, the fact that we’re even getting to talk about that is huge. The fact that we’re here, the BRCA is in the bill, developer protections from securities laws are in the bill – it is a really great sign, and we just need to keep pushing and holding the line.”
Responding to OCC on Implementation of the GENIUS Act
On May 1, 2026, DEF and Solana Policy Institute submitted a comment letter to the Office of the Comptroller of the Currency (OCC) in response to the agency’s request for comment on proposed rules implementing the GENIUS Act, which would establish a federal licensing framework for payment stablecoin issuers.
In our submission, DEF and SPI argue that a “coherent and durable” approach to implementing the framework should be grounded in three core principles: (1) control as the defining regulatory principle, (2) function and principle over form, and (3) alignment with the statutory text and existing guidance.
Read the full response here.
DEF’s CEO Discusses Money Transmission Laws on ‘Law of Code’
On May 4, 2026, DEF’s CEO and CLO Amanda Tuminelli joined Jacob Robinson on Law of Code’s special long-form episode on money transmission laws, developer protections, and related pending legislation in Congress.
Amanda highlighted nuances of the DOJ’s 2025 Memo, Storm v. US trial, the Blockchain Regulatory Certainty Act (BRCA) and the Promoting Innovation in Blockchain Development Act.
You can listen to the podcast here.
DEF at Consensus 2026
The DEF team was on the ground at Consensus 2026 in sunny Miami, FL.
DEF’s Chief Communications Officer, Jennifer Rosenthal, moderated a panel about ‘Crypto’s Push into Mainstream Banking’ featuring Benjamin Melnicki, Chief Risk & Compliance Officer, Cross River; and Kevin Wysocki, Head of Policy, Anchorage Digital.
And DEF’s Policy Lead, Gavin Zavatone, spoke at the event’s Policy & Regulation Summit, joined by the Blockchain Association’s Chief Policy Officer, Lindsay Fraser.
If you’re attending any crypto, policy, or DeFi events the summer, please let us know by emailing info@defieducationfund.org.
May Financial Disclosures
| Donations Received | $100,000 |
| Lobbyists | $45,000 |
| Public Relations | |
| Policy Litigation | $51,583.17 |
| Marcomm & Fundraising | $1,029.42 |
| Operating Expense | $333,829.00 |
May Content and Media by DEF
Select Media
- Crypto in America: Crypto Industry Sees Progress in Clarity Act Ahead of Pivotal Senate Banking Vote
- Other proposed amendments are also causing heartburn across the industry, including several that DeFi Education Fund says would harm DeFi technology, users, and developers by stripping away key protections for users of decentralized technology.
- CoinDesk: Clarity Act, in the flesh, unveiled by U.S. Senate Banking Committee before hearing
- “We are encouraged by the direction of recent negotiations and note that the most important provisions for developers and infrastructure providers — the BRCA and protections under the Exchange Act — are in this bill,” the DeFi Education Fund said through a spokesperson, adding that the organizations will track amendments this week and will flag those that oppose the sector.
- The Block: Updated Senate Banking Committee bill tackles stablecoin rewards, DeFi but sidesteps Trump’s crypto conflicts of interest
- On Monday night, the DeFi Education Fund said they are reviewing the bill.
“We are encouraged by the direction of recent negotiations and note that the most important provisions for developers and infrastructure providers – the BRCA and protections under the Exchange Act – are in this bill,” the group said in a post on X.
Blogs/Articles/Papers
- DEF is Tracking Anti-DeFi Amendments
- We Surveyed Software Developers About Building in the United States
