Veda Joins The Digital Chamber to Support DeFi Education and Advocacy

Today, we’re announcing that Veda is now a member of The Digital Chamber, a US trade association focused on digital asset policy and advocacy in Washington, D.C. With its deep focus on educating agencies, lawmakers, and the public about blockchain technology, our membership marks an important next step in our ongoing efforts to help policymakers learn about digital asset infrastructure like vaults and the role they will play in the onchain financial markets of the future. 

Veda General Counsel TuongVy Le will be joining The Digital Chamber’s Decentralization Working Group Leadership Committee, which is specifically focused on the topic of decentralized financial infrastructure.

‍

‍

Our latest step in these policy and regulatory efforts comes shortly after SEC Commissioner Hester Pierce released a statement on crypto vaults welcoming collaboration from market participants.

Earlier this year, Veda CEO and co-founder Sun Raghupathi visited Washington, D.C. to speak with policymakers about onchain vaults and how they differ from existing financial infrastructures. 

‍

‍

In March, Veda sent a letter to the SEC and CFTC, advising policymakers to consider non-custodial vault infrastructure that meets specific requirements as Qualified Custodians under the Investment Advisers Act of 1940, which would allow qualifying vaults to hold assets in the regulated asset management space. 

And last month, Veda submitted a joint policy brief with blockchain compliance firm Bluprynt to the SEC, detailing why digital asset custody regulation should focus on the protections an arrangement delivers, not the institutional form it takes. A properly designed onchain vault, paired with continuous verification, can protect against misappropriation, commingling, insolvency exposure, and false reporting through transparent governance and cryptographically-enforced controls.

Builders and innovators should have a voice in how their products are regulated, and founders should be a resource for policymakers who seek to learn more about DeFi infrastructure. We're excited to work with The Digital Chamber and its members to advance these goals.