a16z and DeFi Education Fund propose a "safe harbor" for dApp developers

Two major organizations in the cryptocurrency field, #AndreessenHorowitz (a16z) and DeFi Education Fund, have just proposed to the U.S. Securities and Exchange Commission (SEC) a "safe harbor." The goal is to protect decentralized application (dApp) developers from being classified as unregistered securities brokers.

Criteria for legal exemption

According to the proposal, dApp developers will be exempt from SEC regulations if they meet several important criteria:

The application must not retain control over users' funds (non-custodial).

Do not provide investment advice.

Only interact with protocols that have been decentralized or have a "good faith" intention to decentralize in the future.

This proposal aims to address the legal issues that companies such as #Consensys (MetaMask developer) and Uniswap Labs have faced, where the SEC accused them of operating as unregistered brokers.

This proposal is part of the efforts of President $TRUMP 's administration and the SEC to create a clearer legal framework for the cryptocurrency industry. Amanda Tuminelli, Executive Director of DeFi Education Fund, emphasized that developers deserve clarity so they can build without fear of inappropriate legal requirements.

This "safe harbor" is expected to foster innovation, as it allows startups to develop technology safely without rushing to relinquish control to avoid SEC scrutiny. #anhbacong