Don't forget to join our July Community Call tomorrow at 1pm ET! Details below👇

There is no question about it. Last week was a HISTORIC week for crypto policy. Missed any of it? Catch up now in this week’s DeFi Debrief.

The GENIUS Act isn't directly about DeFi — it regulates centralized stablecoins with full reserves offchain. But it is very good for DeFi — the more dollars and people there are onchain, the more need there will be for onchain finance of all kinds. Payments are just a gateway.

DEF is pleased to share the following statement regarding President Trump signing the GENIUS Act into law.

1/ DEF shares the following statement on GENIUS Act’s successful passage in the House with an overwhelming bipartisan supermajority vote of 308-122.

DeFi *IS* different. Thank you @CongressmanGT for championing DeFi on the House floor: "Congress is making an unambiguous statement that DeFi is different and it should be treated differently from the centralized, custodial intermediaries. Protecting this emerging technology is an essential purpose of the CLARITY Act." We could not agree more.

Thank you @GOPMajorityWhip for highlighting the importance of protecting devs of decentralized technology on the House floor: "The United States stands at the forefront of the next digital renaissance, a transformative shift towards a decentralized, peer-to-peer, digital economy [...] elements of the Blockchain Regulatory Certainty Act were included, clarifying once and for all that digital asset developers and service providers, who do not custody consumer funds, are not considered money transmitters. Importantly, the Clarity Act will help further decentralize our financial system so that Americans can forego intermediaries and transact directly with each other. Having this choice will fundamentally transform the digital economy and unlock new opportunities for innovators, investors, and consumers around the globe.”

A few moments ago on the House Floor, @RepFrenchHill acknowledged that "decentralized finance or DeFi developers do not take custody of user assets, nor do they control user assets. Therefore, we should not treat them in the same way we treat centralized actors who do have custody, who do have control over assets." Thank you Chair Hill for recognizing DeFi's unique characteristics.

🚨Community Call Alert🚨 DEF's July Community Call is next Tuesday (7/22) at 1pm ET. With momentum building on marquee pieces of crypto legislation, you won't want to miss this update from the DEF team.

What happened in US vs Storm today? 👉 heard from 36 potential jurors 👉 legal teams selected 12 jurors (7 women, 5 men) & 4 alternatives 👉 Opening statements 👉 Gov’t first witness