Differentiating between DeFi developers and centralized intermediaries; clearly defining which intermediaries need to register with the government; criteria for determining whether a protocol is decen

CoinFeed reported on August 2nd that, according to The Block, the DeFi Education Fund (DEF) submitted a submission urging the Senate Banking Committee to seriously consider how to regulate DeFi and establish a dedicated regulatory framework for DeFi. It emphasized that legislation should adhere to four key objectives: distinguishing DeFi developers from centralized intermediaries; clearly defining which intermediaries need to register with the government; standards for determining whether a protocol is decentralized; and technology-neutral regulation. The DEF submission was signed by a16z Crypto, Jito Labs, Jump Crypto, Paradigm, Multicoin Capital, Solana Policy Institute, Uniswap Foundation, Uniswap Labs, and Variant Fund. The committee is discussing a draft of the Responsible Financial Innovation Act of 2025 (RFIA), an updated version of cryptocurrency market legislation considered by the Senate in June 2022. The committee is seeking public comment on the draft bill to "ensure that it effectively builds on the strong foundation established by the CLARITY Act and encourages American innovation without jeopardizing financial stability or harming consumers."