The banks demanded the exclusion for yield-bearing stablecoins in the GENIUS Act. Now they're upset that the language they asked for doesn't screw over stablecoin holders hard enough. Sorry you guys did a bad job negotiating your regulatory moat. Try lobbying better next time!

The most fundamental part of the digital asset economy is the personal empowerment and agency that comes from self-custody & decentralized finance. Today @fund_defi introduced the DeFi Education Foundation. I'm proud to be on its board with my friends @amandatums & @m_mosier_.

Day after day, @fund_defi and @amandatums put points on the board for broader understanding of crypto. Substance over self-aggrandizement, practical over esoteric. When we win, they’ll deserve a huge share of the credit.

Today, I share a mid-year letter explaining the important work that @fund_defi has done since January. I’ve been thinking a lot about DEF's unique position as the only DeFi-focused, nonpartisan nonprofit research & advocacy org at this particular moment in digital asset policy 👇

LIVE NOW - The Trial That Could Decide The Future of Crypto @jchervinsky and @amandatums join us to unpack the @rstormsf verdict—what it means for DeFi, why Section 1960 is a looming threat to open-source developers, and the strong grounds for appeal. We discuss the legal, political, and legislative paths forward, the role of Congress in protecting developers, and how the crypto industry can mobilize to prevent future prosecutions. -------------- TIMESTAMPS 0:00 Intro 0:24 Verdict First Impressions 4:22 Was it Successful? 6:26 Second Trial? 9:47 Money Transmitter Debate 15:20 Optimistic Setup? 19:56 Levels of Precedent 26:04 What’s Next? 30:26 Crypto Industry Agency 34:01 Regulatory Acts 37:33 Two Paths 44:35 Trump Administration 49:02 Upcoming Administrations 53:45 Call to Action 56:55 Closing & Disclaimers

It's 2030 You're a merchant receiving payment from a customer. They pay with USDC on CircleChain but your payment termainl only receives StripeUSD on StripeChain. But once you get StripeUSD, you want to transfer it to your account with Bank of America, so you need to transfer it to BofAUSD on BofAChain. But wait, you go and pay your supplier. The problem is, they custody with JPMorgan. So then you need to get your BofAUSD on BofAChain to JPMorganUSD on JPMorganChain. But JPMorganChain is permissioned, so you need to route it through a special intermediary... and so on Is this the future we're headed toward?

Really disappointing to see a company building tech tools not understand how those tools are used. Will @Google be registering Gmail as a money transmitter because people send messages regarding their transactions via email?

Remember this when Roman Storm files post-trial motions or an appeal. The judge instructed the jury incorrectly on Section 1960, so they convicted him based on a misunderstanding of the law (that it covers non-custodial software developers; it does not). This is ripe for appeal.

Remember this when Roman Storm files post-trial motions or an appeal. The judge instructed the jury incorrectly on Section 1960, so they convicted him based on a misunderstanding of the law (that it applies non-custodial software developers; it does not). This is ripe for appeal.

one hour left to vote!