Darling, Do Keep Up! 🕶️
The DeFi darlings are throwing a tantrum, my dear, and it’s all rather splendidly absurd. They’ve penned a letter to Congress, insisting on legal safeguards for their precious developers. Otherwise? Well, they’ll simply sashay away from the market structure bill. How très dramatic! 🎭
Apparently, these tech wizards are quivering in their boots, fearing they’ll be treated like poor Roman Storm of Tornado Cash fame. Oh, the horror! 👻
In a letter that’s positively dripping with indignation, 115 DeFi luminaries, led by the ever-so-serious DeFi Fund Education Fund (DEF), have demanded ‘nationwide protections for software developers and non-custodial providers.’ They’ve even threatened to withdraw their support if Congress doesn’t play ball. How utterly daring! 💅
“Without such protections, we cannot support a market structure bill.”
And did you know, darling, that U.S. developers have dwindled by 7% in the past four years? They’re blaming it on regulatory uncertainty, of course. How dreadfully inconvenient! 🤷♂️
“The total share of open-source software developers in the United States dropped from 25% in 2021 to 18% in 2025- a trend largely attributed to the lack of regulatory certainty for software development.”
If this continues, it could ruin President Trump’s grand vision of America as the crypto capital of the world. Perish the thought! 🇺🇸🤑
Crypto Bill: A Circus of Opinions 🎪
The legal eagles are squawking in unison, my dear. Jake Chervinsky, the chief legal officer at Variant Fund, insists the bill must shield developers from ‘Biden-era hostility.’ How very partisan! 🦅
“The bill must protect developers from a return to Biden-era hostility, full stop…no dev protections, no bill.”
And Amanda Tuminelli, the DEF’s legal queen bee, quipped that developers shouldn’t be ‘misclassified’ as TradFi intermediaries. How ghastly that would be! 🐝
Congress, poor dears, are caught in a frightful balancing act. The banking sector is clutching its pearls over stablecoin interest, while traditional exchanges are wailing about tokenisation. It’s all rather tiresome, isn’t it? 💼💸
Meanwhile, the crypto lobby is fattening its war chest for the 2026 midterms. Anti-crypto lawmakers must be quaking in their boots! 🤑🗳️
Discussions on the market structure bill will resume in September, darling. The Senate Agriculture Committee will unveil its draft next month, and those pesky SEC-CFTC jurisdictional squabbles are expected to be sorted by then. How utterly tedious! 📅⚖️
Some are optimistic about passing the bill by year-end, but others are less sanguine. Delays, they warn, could push it into next year. How dreadfully inconvenient! ⏳
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2025-08-28 13:15