The Battle for DeFi & Crypto Legislation! with Amanda Tuminelli

A focused DeFi policy update: how agency rulemaking, the Clarity Act and BRCA determine developer liability, custody rules, and federal preemption to protect U.S. innovation.

Key Takeaways

SEC and CFTC can and should issue crypto rulemaking now; industry submissions accelerate drafting and Congress can adopt agency language into market-structure bills.
Market-structure legislation must include federal preemption to avoid 50 divergent state regimes and resolve BitLicense-driven access problems for users.
BRCA and proposed section 1960 fixes aim to shield noncustodial software developers from money-transmission criminal liability while preserving illicit-activity enforcement.
Regulatory treatment should depend on custody and control—who holds private keys—so self‑hosted wallets and frontend developers are distinguished from custodial institutions.
Don’t overturn Howey; evolve case law for internet-era tokens. Current aggressive SEC enforcement has created legal confusion and slowed on‑chain innovation.
Roman Storm’s prosecution underscores the urgency: industry should file comments, amicus briefs, and engage agencies and Congress to close legal gaps promptly.

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