Regulatory Compliance & Growth in the U.S.A & Abroad
DARA
Digital Asset Regulatory Authority
A Self Regulated Organization
Presented By:
DARA U.S & DARA International
Blockchain Legal Institute Foundation
Digital Asset & Tech News From Around The USA
- Follow DARA on LinkedIn for News Posts
- Federal Updates
- State Updates
- Tech Tool Updates
- Special Guest Speaker: Larry Cameron
- Next Steps
September 23rd - Speakers
Co-Hosts: Matt Rogers and Jacqueline Cooper (DARA Leadership Team)
Moderators: Allison Maffitt (Partner of Cogent Law Group) and Richard Jackson (Deputy Attorney General for Cybersecurity, Technology, and Digital Assets, Ok.).
Speakers:
Adam Minehardt (ChainLink) Matt Tatem (Tatem Security) Robert Whitaker (Merkle Science)
Larry Cameron (Paradigm Security) Scott Barnhart (Attorney General Office) Louis Sirico (FluiDefi)
Alexandra Lloyd (YouHodler) Wes Crook (FP Block) Anthony Howell (Bermuda Government)
DARA Summit on Sept. 23rd
Panel 1:
Collaboration Across Borders for Harmonized Digital Asset Regulation and Operational Resilience
Panel 2:
Crypto Regulation, Enforcement, and Risk Management—What Financial Institutions Need to Know - Laws, States, Enforcement and Consumer Protection
New Notes
The U.S. Department of Commerce and Chainlink Are Now Bringing Government Macroeconomic Data Onchain
Link to Article: Chainlink and the United States Department of Commerce (DOC) have worked together to bring U.S. government macroeconomic data onchain from the Bureau of Economic Analysis (BEA). These new Chainlink Data Feeds securely deliver critical information around key U.S. economic data onchain, including Real Gross Domestic Product (GDP), Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers.
CALIFORNIA
On August 26, the Los Angeles Planning and Land Use Management Committee will consider a motion directing the Department of Building and Safety to report on Executive Directive 10 and launch an AI pilot to pre-screen permit applications.
Executive Directive 10, issued by Mayor Karen Bass, created a self-certification program for architects and directed the use of AI-assisted reviews to speed rebuilding after the Palisades wildfires.
SB 503, which requires the Department of Health Care Access and Information and the Department of Technology to establish an advisory board on the use of artificial intelligence in health care services.
SB 53, which enacts the Transparency in Frontier Artificial Intelligence Act to ensure the safety of a foundation model developed by a large developer, requiring the large developer to write, implement, and publish a safety and security protocol on its website.
On August 15, Illinois Governor JB Pritzker (D) approved HB 3178 (Public Act 104-0282) which amends the Digital Voice and Likeness Protection Act to apply only as it relates to a new performance, fixed on or after January 1, 2026, by a digital replica of an individual if certain requirements are met. The act adds additional contractual protections and is effective January 1, 2026.
On August 15, Pritzker also approved SB 1920 (Public Act 104-0399). The act requires the State Board of Education to:
- Develop, with stakeholder consultation, statewide guidance for school districts and educators on the use of artificial intelligence in K-12 education
- Publicly post the process for testing evaluations
- Expand current Internet safety instructions to include the application of false representations created by AI
California
On August 26, the Los Angeles Planning and Land Use Management Committee will consider a motion directing the Department of Building and Safety to report on Executive Directive 10 and launch an AI pilot to pre-screen permit applications.
Executive Directive 10, issued by Mayor Karen Bass, created a self-certification program for architects and directed the use of AI-assisted reviews to speed rebuilding after the Palisades wildfires.
SB 503, which requires the Department of Health Care Access and Information and the Department of Technology to establish an advisory board on the use of artificial intelligence in health care services.
SB 53, which enacts the Transparency in Frontier Artificial Intelligence Act to ensure the safety of a foundation model developed by a large developer, requiring the large developer to write, implement, and publish a safety and security protocol on its website.
On August 15, Illinois Governor JB Pritzker (D) approved HB 3178 (Public Act 104-0282) which amends the Digital Voice and Likeness Protection Act to apply only as it relates to a new performance, fixed on or after January 1, 2026, by a digital replica of an individual if certain requirements are met. The act adds additional contractual protections and is effective January 1, 2026.
On August 15, Pritzker also approved SB 1920 (Public Act 104-0399). The act requires the State Board of Education to:
- Develop, with stakeholder consultation, statewide guidance for school districts and educators on the use of artificial intelligence in K-12 education
- Publicly post the process for testing evaluations
- Expand current Internet safety instructions to include the application of false representations created by AI
Florida
On August 20, the Tallahassee City Commission will receive an overview of the ways city staff are currently using artificial intelligence (AI) solutions and will conduct a review of policies governing the use of the technology. The brief provides details on the policy frameworks for city technologies and a summary of current uses of AI applications, including public safety and customer service.
On August 5, the U.S. District Court, Eastern District Court of California granted summary judgment for litigants and denied a cross motion for summary judgement for attorneys representing California in the case of Kohls v. Bonta (E.D. Cal., No. 2:24-cv-02527). The motion struck the law Defending Democracy from Deepfake Deception Act of 2024 (AB 2655), which requires a large online platform to block the posting of materially deceptive content related to elections in California during specified periods before and after an election.
AB 979, which would require the California Cybersecurity Integration Center to develop a California AI Cybersecurity Collaboration Playbook to facilitate information sharing across the artificial intelligence community and to strengthen collective cyber defenses against emerging threats.
U.S. Senator Mike Rounds (R-SD) has reintroduced the Unleashing AI Innovation in Financial Services Act (S.2528 – A bill to establish AI Innovation Labs that permit certain persons to experiment with artificial intelligence without expectation of enforcement actions). The Senator said the bill would create “a safe space for experimentation” with AI in the financial service sector and the bipartisan bill would “create a venue for financial institutions and regulators to work together to test AI projects for deployment.” The Rounds’ comments on July 30, 2025 came at the first hearing in which he is serving as chairman of the Senate Banking Committee’s Subcommittee on Securities, Insurance and Investment.
U.S. Representative Greg Casar (D-TX) and Rashida Tlaib (D-MI) have introduced the “Stop AI Price Gouging and Wage Fixing Act of 2025” (H.R. 4640 – To prohibit certain uses of algorithmic decision systems to inform individualized prices and wages, and for other purposes.) The bill would prevent companies from using AI to set prices or wages based on personal data and would specifically ban airlines from raising prices for an individual after seeing a search for a family obituary.
Senate Banking RFI: The Senate Banking Committee collected feedback from industry stakeholders on its recently released discussion draft. While there’s broad agreement on the need for legislation to bring clarity to the crypto market, a core debate persists over whether the regulatory treatment of a digital asset should hinge on the degree of control any one person or group can exert over the asset and its related blockchain (CLARITY’s “digital commodity” approach) or the rights the digital asset conveys (Senate’s “ancillary asset” approach). Committee staff will review feedback throughout the August recess. Meanwhile, Senate Agriculture Committee will continue developing its own bill focused on CFTC-related issues.
Here’s a sampling of some responses:
- a16z
- DeFi Education Fund
- The Digital Chamber
- Paradigm, Multicoin Capital, Chainlink Labs, Electric Capital, Galaxy Digital, Ribbit Capital, and Tribe Capital
Courts
Roman Storm: A jury found Roman Storm guilty of conspiracy to operate an unlicensed money transmitter business, but deadlocked on charges of conspiracy to commit money laundering and sanctions evasions. Storm plans to appeal the conviction, which carries a sentence of up to 5 years. It remains to be seen whether DOJ will retry the hung charges.
- Statement from U.S. Attorney Jay Clayton.
- Coin Center’s takeaways:
White House President Trump issued two executive orders.
Ending Debanking EO: The “Guaranteeing Fair Banking for All Americans” Executive Order directs federal banking regulators to remove reputational risk and similar concepts that enable “politicized or unlawful debanking”—i.e., restricting financial services based on a customer’s political or religious beliefs or lawful business activity. It also directs the SBA to require lenders in its programs to identify, notify, and reinstate clients denied services through politicized or unlawful debanking. Treasury must develop a comprehensive strategy to address and prevent debanking across the federal government.
Democratizing Retirement Plans EO: The “Democratizing Access to Alternative Assets for 401(k) Investors” Executive Order directs the Department of Labor to reexamine and clarify ERISA guidance so fiduciaries can offer asset allocation funds that include alternative assets. It also directs the SEC to evaluate potential changes to the accredited investor and qualified purchaser rules to expand retirement plan participants’ access to alternative assets. “Alternative assets” include holdings in investments funds that invest in digital assets, as well as direct and indirect investments in commodities.
SEC – Liquid Staking: The SEC’s Division of Corporation Finance published guidance stating that certain liquid staking activities do not involve the offer or sale of securities and certain staking receipt tokens are not securities.
- Statement on Liquid Staking Activities.
Commissioner Peirce on Privacy: In recent remarks, Commissioner Hester Peirce called for a rethinking of U.S. financial surveillance, questioning whether the benefits of the Bank Secrecy Act—particularly as broadly applied under the third-party doctrine—outweigh Americans’ individual liberty interests. She also highlighted how privacy-preserving cryptography, such as zero-knowledge proofs, can help restore financial privacy without compromising security.
CFTC
CFTC Crypto Sprint/Request for Feedback: On Friday (August 1), CFTC Acting Chair Caroline Pham announced the CFTC would begin a “Crypto Sprint” to implement the White House’s crypto agenda. On Monday, the CFTC announced the launch of an initiative for trading spot crypto asset contracts listed on CFTC-registered futures exchanges. The CFTC invites interested stakeholders to submit feedback on the proposal by August 18.
Bipartisan AI Innovation Labs
Special Guest Speakers
Larry Cameron
Topics:
Enhancing Explainability and Trust in Blockchain Investigations (The Merkle Report)
Additional Resources
Visit BLI.TOOLS.
www.marylandblockchainassociation.org
Visit MARYLANDBLOCKCHAINASSOCIATION.ORG.