DEF dey push tech-neutral crypto regulation for Senate bill
DeFi Education Fund (DEF) bin beg di Senate Banking Committee make dem accept tech-neutral crypto regulation for di 2025 Responsible Financial Innovation Act (RFA) draft. For letter wey dem sign on August 1 from Uniswap Labs, a16z Crypto, plus Paradigm, DEF talk say open-source developers and non-custodial tools no suppose dey treated as financial institutions or middlemen. Di group call for correct FinCEN guidance wey clear say software wey no get control over user funds no dey under financial institution rules and dem warn say some states fit use enforcement to stop DeFi competition. DEF come emphasize how important self-custody rights and steady federal oversight be to help innovation grow plus protect user freedom. Dis push to get clear crypto law go reduce confusion and support growth of decentralized finance.
Bullish
Dis proposal dey reduce regulatory confusion by insist say DeFi developers and non-custodial tools follow tech-neutral rules. Clear crypto regulation go reduce compliance risk and legal wahala, e go encourage project launches plus developer activities. Short term, market wahala wey relate to policy doubts fit reduce as lawmakers clear di rules. Long term, consistent federal oversight and protection for self-custody fit make DeFi grow steady and wide. Similar FinCEN clarification on non-custodial wallets before don boost innovation and market participation.