Gavin Zavatone(@glzavatone):Today, @fund_defi and @SolanaInstitute submitted comments to @FinCENnews on its proposed GENIUS Act customer identification rules. Our main message: CIP obligations should not apply to DeFi, decentralized blockchain infrastructure, or peer-to-peer crypto users. The GENIUS Act should not be implemented in a way that imports the same problems (and unnecessary friction inherent in traditional financial intermediaries) onto decentralized, non-custodial systems. The final rule should preserve clear protections for self-custody, secondary-market activity, validators, protocols, and other non-custodial infrastructure. We will continue to push to ensure GENIUS Act implementation protects decentralized blockchain infrastructure and crypto users.

2026.08.21 21:03

Today, @fund_defi and @SolanaInstitute submitted comments to @FinCENnews on its proposed GENIUS Act customer identification rules. Our main message: CIP obligations should not apply to DeFi, decentralized blockchain infrastructure, or peer-to-peer crypto users. The GENIUS Act should not be implemented in a way that imports the same problems (and unnecessary friction inherent in traditional financial intermediaries) onto decentralized, non-custodial systems. The final rule should preserve clear protections for self-custody, secondary-market activity, validators, protocols, and other non-custodial infrastructure. We will continue to push to ensure GENIUS Act implementation protects decentralized blockchain infrastructure and crypto users.