Author
Julia Smith
Author
Julia Smith
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Crypto lobbying group the DeFi Education Fund is officially launching its namesake foundation, the company announced in an August 13 press release.
DeFi Education Fund Launches New Foundation
According to the Wednesday press release, the DeFi Education Foundation will continue the digital asset-focused collective’s crypto advocacy work while giving donors the opportunity to benefit “from charitable giving incentives.”
“We are thrilled to announce the launch of the DeFi Education Foundation (DEF) — a newly launched 501(c)(3) nonprofit dedicated to furthering DEF’s mission of educating lawmakers about DeFi, protecting software developers, and promoting sound DeFi policy,” the press release states.
“In-kind crypto donations to DeFi Education Foundation can be a more tax-efficient way to support DEF’s mission,” the organization added, stating that the move will be a “net-positive for many DEF donors.”
“We remain unwaveringly focused on our advancing our mission on behalf of the DeFi industry, but with this new entity we have new benefits for our supporters,” the press release states.
News of the foundation’s launch comes the same week that its parent organization announced and a16z submitted proposals to the SEC to the United States Securities and Exchange Commission (SEC) to persuade the federal regulator to create a “safe harbor” for blockchain-powered apps amid regulatory uncertainty.
The concern is that the SEC’s past approach could classify blockchain app developers as brokers, imposing burdensome registration and compliance requirements.
“Requiring broker registration for neutral apps would force software developers to take on roles and responsibilities they never assumed—acting as gatekeepers, taking custody, and intermediating activity—all of which undermine the benefits of blockchain systems and create new risks for users,” a new blog post on the DeFi Education Fund’s website states.
The launch of the foundation underscores the organization’s dual focus on advancing crypto advocacy and providing a tax-efficient way for supporters to back efforts addressing regulatory challenges like the SEC’s broker classification concerns.
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