Law & Policy

The Bank Secrecy Act (BSA) is a failure in traditional finance, yet recent legal theories being pushed by the DOJ are seemingly extending BSA’s burdensome framework to DeFi—ultimately, putting American innovation, privacy, and decentralization at risk.

In a new article by DEF’s Gavin Zavatone & Henry Michaelson, we continue our exploration of the BSA. This latest paper focuses on why the BSA is ineffective and would cause existential harm to the DeFi industry.

https://www.defieducationfund.org/post/examining-the-burdens-costs-and-failures-of-the-bank-secrecy-act-bsa-and-the-potentially-disast

“As some have attempted to extend the BSA framework to DeFi, it is crucial to assess its current inefficacies and recognize that applying its burdensome requirements to DeFi would not only be impractical but would also cripple an emerging industry without meaningfully curbing illicit finance.”

Read the full article at the link:

We do policy and advocacy work to help DeFi flourish. 

Looking to donate? 
https://www.defieducationfund.org/supportus

“As some have attempted to extend the BSA framework to DeFi, it is crucial to assess its current inefficacies and recognize that applying its burdensome requirements to DeFi would not only be impractical but would also cripple an emerging industry without meaningfully curbing illicit finance.”

Read the full article at the link: https://www.defieducationfund.org/post/examining-the-burdens-costs-and-failures-of-the-bank-secrecy-act-bsa-and-the-potentially-disast