Here’s what the DeFi Education Fund (DEF) has been up to in May. If you have any questions or would like to learn more about a specific activity, please do not hesitate to reach out.
Making the Case for Regulatory Clarity
Speaking at the Financial Times’ Digital Asset and Crypto Summit in London, DEF’s CEO Miller Whitehouse-Levine joined a panel consisting of representatives from some of the major global regulatory bodies including, Commissioner Hester Peirce, U.S. Securities and Exchange Commission; Sarah Pritchard, Executive Director of Supervision, Policy and Competition – Markets, Financial Conduct Authority; and Sandra Lee, Deputy Assistant Secretary for the Financial Stability Oversight Council, U.S. Department of Treasury.
Continuing Educating Members of Congress
In May, we continued to spend a good chunk of our time meeting with members of Congress and their staff and educating them on the key differences between CeFi and DeFi.
As demonstrated by the historic joint Financial Services-Agriculture Subcommittee hearing, entitled: The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets, as well as House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion’s hearing on stablecoins, this summer is primed to be one of significance for U.S. crypto policy.
Making the Case for the Crypto Industry to Remain in the U.S.
In an op-ed appearing in Blockworks, DEF’s CEO, Miller Whitehouse-Levine, offered commentary on the latest trend of crypto companies moving overseas in search of more favorable regulatory environments.
As Miller writes, “The next year and a half is critical in the battle for which jurisdiction will win out in the race to properly embrace crypto as a durable economic and technological force….Congress should use this opportunity to follow suit and pass legislation to manage centralized stablecoins and exchanges with a comprehensive, national framework.”
To read the full article, click here.
Blockworks: Don’t Drive Crypto Into the EU’s Open Arms
Authored by Miller Whitehouse-Levine
Financial Times: The view from the crypto summit
This week’s soundbite honour goes to Miller Whitehouse-Levine, chief executive at the DeFi Education Fund, an organisation whose mission it is to “educate policymakers about the benefits of decentralised finance”.
On an FT panel discussing the possibility of regulating crypto on a global scale, the DeFi chief was candid about one of the crypto industry’s central tenets, namely that the rules of the crypto game are set by the blockchain and not regulators or the government.
“The idea of ‘code is law’ has run into the problem of reality . . . at the end of the day we all exist in the real world and we adjudicate disagreements through a judicial system in the United States that has developed over centuries.”
“The SEC's response is just the latest instance of them punting rather than engaging,” Amanda Tuminelli, Chief Legal Officer at advocacy group DeFi Education Fund, told The Defiant. “Their position essentially boils down to ‘we don't want to engage in clear rulemaking, and we think regulation by enforcement is working just fine in the meantime, thank you.’”
For up-to-date information about what’s happening in D.C. and what we are up to, please follow us on Twitter @fund_defi and subscribe to our Substack.
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