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The Crypto Lobby Group Defi Education Fund called for the US Banking Committee of the Senate to re -evaluate how it plans to regulate the decentralized financial industry after reviewing its recently published discussion on the key bill on the Krypto market.
Answer, signed on behalf of the members of Defi Education Fund (DEF), including A16z Crypto, Uniswap Labs and Paradigm, said The responsible Law on Financial Innovation of 2025 (RFA) Bill should be created in a more technically neutral way that crypto developers should be protected from “inappropriate regulation for intermediaries” and that the rights of self -confidence for all Americans are “necessary”.
Legislation should “solve illegal financing but not unfairly burden,” he added on Friday letter Chairman of the Banking Committee of the Senate Tim Scott and Senators Cynthia Lummis, Bill Hagery and Katie Britt.
The Senate Banking Committee welcomed feedback
The Banking Committee asked for feedback on the proposal of the discussion to help ensure that it was built on Law on Clarity of the Digital Property Market of 2025 to support innovations in the Define industry in the amount of $ 141 billion without A threat to consumers’ protection or financial stability.
Crypto Devs Protection The highest priority
DEF also asked the legislators to update the Fincen in Light Tornado Cash Developer Roman storm.
“The creation of rules should reflect that technology, which consists only of non -construction software, must not be regulated as a financial institution or financial intermediary.”
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The Krypto Lobby Group also demanded a federal pre -preselection of state laws to ensure consistent protection for crypto developers at a nationwide level.
“Traditional financial institutions with a maintenance source can use the fragmented regulatory environment by financing or by supporting coercive measures at the state level against Defi-NO developers, but to suppress the competition,” he said that the federal law should prevent conflicting state regulations.
A16z Crypto made its own submission
A16Z Crypto, a crypto arm of technologically focused companies A16Z, also submitted a separate response to the Senate Bank Committee on Thursday.
Main criticism A16z The bill on the Crypt Act is that it risks undermining investors protection by creating dangerous gaps – especially the treatment of “auxiliary assets”.
The company claims that redefining these assets without major changes is incompatible with the existing securities law in the US, especially Howey test. He warns that the proposal could allow initiations to use exceptions and throw the tokens to the public without regulatory supervision.
Instead, A16Z advocates the model of the “digital commodity” with clear requirements for decentralization.
