A new cryptocurrency-focused political action committee, the Defend Developers PAC, launched on Wednesday with backing from executives at the DeFi Education Fund, the Solana Policy Institute, and Uniswap Labs. The PAC aims to protect software developers as midterm elections approach, focusing on legislative safeguards like the Blockchain Regulatory Certainty Act (BRCA). The launch follows a year of advocacy for developer protections within the Senate's Clarity Act, though recent compromises removed key language from Section 301 of the bill. The initiative reflects the cryptocurrency industry's growing political engagement, with multiple PACs emerging to influence digital asset policy ahead of the election cycle.
Defend Developers PAC Launches With Backing From DeFi and Solana Groups
On Wednesday, the Defend Developers PAC debuted with support from policy leads at the DeFi Education Fund, the Solana Policy Institute, and Uniswap Labs. The PAC's founder, Gavin Zavatone, stated that developers building decentralized technologies have faced regulatory uncertainty and enforcement actions instead of clear rules. The organization plans to back lawmakers who actively champion developer protections, decentralized technology, and permissionless blockchain infrastructure.
The PAC's board of directors includes Uniswap Labs Head of Policy Brian Nistler, DeFi Education Fund CEO Amanda Tuminelli, and Solana Policy Institute CEO Miller Whitehouse-Levine. Over the past year, these groups have pushed for software developer protections in the Senate's Clarity Act, a larger cryptocurrency market structure bill. Central to their effort is the Blockchain Regulatory Certainty Act (BRCA), which would clarify that non-custodial developers are not money transmitters.
Senate Banking Committee Approved Clarity Act With Modified BRCA Language Last Month
The Senate Banking Committee approved the Clarity Act last month with BRCA included. However, a late-stage compromise to secure Democratic support removed language that would have extended protections to Section 301 of the bill, which addresses Bank Secrecy Act-related sanctions requirements. BRCA has raised concerns among law enforcement groups, who say the provision's language could make it hard to crack down on financial crime.
On Tuesday, the Blockchain Association sent a letter to Senate Majority Leader John Thune and Senate Democratic Leader Chuck Schumer urging them to pass the Clarity Act. The letter was signed by former national security and law enforcement officials.
Blockchain Leadership Fund Debuted in March as Crypto PACs Expand
PACs focused on cryptocurrency interests are increasingly being created. The Blockchain Leadership Fund, backed by Anchorage Digital and Chainlink Labs, debuted in March to support candidates working to progress digital asset and blockchain policies. The cryptocurrency industry became a major force in the 2024 election cycle, spending millions of dollars through super PACs and other political groups.
Last month, pro-crypto Rep. Christian Menefee unseated longtime Rep. Al Green in Texas, demonstrating the impact of PAC involvement in elections.
FAQ
What is the Defend Developers PAC and when did it launch?
The Defend Developers PAC is a cryptocurrency-focused political action committee that launched on Wednesday. It is backed by executives from the DeFi Education Fund, the Solana Policy Institute, and Uniswap Labs, and aims to protect software developers by supporting lawmakers who champion developer protections and decentralized technology.
What happened to the Blockchain Regulatory Certainty Act in the Senate last month?
The Senate Banking Committee approved the Clarity Act last month with the Blockchain Regulatory Certainty Act (BRCA) included. However, a late-stage compromise to secure Democratic support removed language that would have extended BRCA protections to Section 301 of the bill, which addresses Bank Secrecy Act-related sanctions requirements.
Who unseated Rep. Al Green in Texas last month?
Pro-crypto Rep. Christian Menefee unseated longtime Rep. Al Green in Texas last month, demonstrating the impact of cryptocurrency-focused political action committees in elections.
