Crypto lobby group DeFi Education Fund has called on the US Senate Banking Committee to rethink how it plans to regulate the decentralized finance industry after reviewing its recently published discussion draft on a key crypto market-structure bill.
The response, signed on behalf of DeFi Education Fund (DEF) members including a16z Crypto, Uniswap Labs, and Paradigm, said the Responsible Financial Innovation Act of 2025 (RFA) bill should be crafted in a more tech-neutral manner, that crypto developers should be protected from “inappropriate regulation meant for intermediaries,” and that self-custody rights for all Americans are “essential.”
Legislation should “address illicit finance but not unfairly burden DeFi innovation,” it added in the Friday letter addressed to Senate Banking Committee Chairman Tim Scott and Senators Cynthia Lummis, Bill Hagerty, and Katie Britt.
Senate Banking Committee welcomed the feedback
The banking committee requested feedback on the discussion draft to help ensure it builds on the Digital Asset Market Clarity Act of 2025 to promote innovation in the $1
