Ellie Small

Government Relations and Policy @BlockchainAssn

[Lindsay Fraser @lindsayfraser0]

Like many in this industry, I was drawn to crypto because I believe this technology can meaningfully benefit people when it is allowed to develop responsibly: by expanding access to financial services, giving individuals greater control over their assets, supporting open-source innovation that makes financial infrastructure more transparent and secure, and keeping the next generation of finance and the internet in the United States.

Reading this letter, there is a fundamental misunderstanding about what the Clarity Act does. As a reminder, the Clarity Act:

- applies BSA and sanctions obligations – including SARs reporting – to all digital commodity brokers, dealers, and exchanges (sec. 201)
- creates a new special-measure authority for digital asset-related illicit finance – which gives Treasury significantly stronger tools to combat illicit activity in the digital asset ecosystem (sec. 303)
- brings controlled, ‘DeFi in name only’ protocols into the regulatory perimeter (sec. 301)
- creates a safe harbor for temporary holds on suspicious transactions, allowing stablecoin issuers and digital asset service providers to place short, good-faith holds based on suspected unlawful activity or a written law enforcement request (sec. 305)
- strengthens seizure and forfeiture tools by adding digital assets to the definition of “monetary instruments” in the Bank Secrecy Act (sec. 307)
- requires intermediaries connecting customers to DeFi to maintain risk-management programs addressing money laundering, sanctions evasion, fraud, and market manipulation (sec. 308)
- establishes an information sharing program between private sector entities and federal law enforcement to share information about illicit finance risks and threats (sec. 203)
- creates a federal working group on illicit finance with the mandate to develop proposals to improve anti-money laundering efforts related to digital assets (sec. 204)

And Section 604 does one narrow thing: It prevents non-custodial software developers from being misclassified as money transmitters when they do not custody assets or control transactions.

It does not immunize criminals. It does not limit sanctions enforcement. It does not stop prosecutions for money laundering, fraud, or terrorist financing.

I agree with the signatories of the letter: Regulatory certainty should never come at the expense of accountability, transparency, victim protection, or public safety.

Fortunately, the Clarity Act does not force a choice between innovation and public safety.

Without Clarity, we are left with the status quo: gaps in oversight, no expanded BSA/AML obligations for key digital asset intermediaries, limited tools for federal agencies, and more activity pushed offshore and outside the U.S. regulatory perimeter.

That outcome serves no one. Not consumers, not law enforcement, not responsible innovators, and not the United States.

To the signatories of this letter: We share the same goal. We must hold bad actors accountable. We must protect consumers. We must ensure this technology develops under American rules.

The answer is to pass a framework that brings digital asset activity into the regulatory perimeter, gives law enforcement strong, effective tools, and makes clear that innovation and accountability are not competing values.

[Blockchain Association @BlockchainAssn]

Today, BA partnered with @fund_defi for a DeFi Demo briefing on Capitol Hill.

Thank you to our members @aave, @Base, and @uniswap for showcasing the functionality of DeFi protocols, and for joining the discussion on the future development and use of DeFi in the U.S.

[Gavin Zavatone @glzavatone]

Monday vibes @BlockchainAssn @Jeremy_Epner

[Lindsay Fraser @lindsayfraser0]

On Monday, the @BlockchainAssn and @VanderbiltU co-hosted the inaugural Digital Asset and Emerging Tech Policy Summit.

We were fortunate to be joined by @SenatorHagerty, SEC Chairman @SECPaulSAtkins, House Financial Services Committee Chairman @RepFrenchHill, former CFTC Chairman @giancarloMKTS (all Vanderbilt alums!), as well as CFTC Chairman @MichaelSelig and @RepTimmons.

On a personal level, it was especially meaningful to bring colleagues, policymakers, and industry leaders to a place I care deeply about.

Extremely grateful to @ProfYYadav1 for her partnership, and to the Blockchain Association and Vanderbilt teams for making it all come together.

Already looking forward to next year!

[Ellie Small @_EllieSmall_]

Absolutely thrilled to welcome @lindsayfraser0 to @BlockchainAssn as our new Chief Policy Officer!
Her brilliant mind, steady judgment, and thoughtful approach to every challenge make her exactly the kind of leader this industry needs. We’re so lucky to have her. 🚀💙

[Lindsay Fraser @lindsayfraser0]

I’m pleased to share that I’ve joined @BlockchainAssn as Chief Policy Officer. This comes at a pivotal moment as policymakers consider foundational questions for the future of digital assets.

[Ellie Small @_EllieSmall_]

@lindsayfraser0 @BlockchainAssn Congratulations, Lindsay! 🚀

[Blockchain Association @BlockchainAssn]

Today, BA members are on Capitol Hill for our Privacy Technology Education Day.

Technologies like encryption, zero-knowledge proofs & decentralized identity protect users and strengthen our economy.

Our policymakers must ensure privacy innovation can thrive.

[Paul Brigner 🛡️ @paulbrigner]

5/ @EllieCSmall1 — @BlockchainAssn

Must‑pass items + crypto: CR, NDAA, market structure, stablecoin yields, digital asset tax, and privacy. Also: SEC roundtable on financial surveillance & privacy and BA’s Hill Education Day.

[Maggie Goodlander @MaggieG603]

I’m thrilled to announce that I’m running for Congress in New Hampshire’s 2nd District. I’ve served in all three branches of government and I know how to deliver for New Hampshire. I'll be a workhorse for the people of the Second District and will never stop fighting for a freer and more just Granite State. #NHPolitics

https://t.co/vmo1kM0Zgu

[Igor Bobic @igorbobic]

NH— two US senators walk into “the only hedgehog store in the country,” per the owner.

Cuteness ensues.

[Ellie Small @_EllieSmall_]

@Osborne4NH Comparing one of the hardest decisions that a person with a uterus has to make in their life with eating a sandwich? 🤡🤡🤡

[Ellie Small @_EllieSmall_]

@JoyceCraigNH 💚💚💚

[Ellie Small @_EllieSmall_]

@realDonaldTrump @kanyewest so many people would also like to see the children and families removed from the horrific conditions at the border... maybe start with your own country first.

[Ellie Small @_EllieSmall_]

Thanks @CoryBooker for coming and talking with us at the @JoyceCraigNH day of action yesterday! #nhpolitics

[Ellie Small @_EllieSmall_]

@realDonaldTrump this is terrifying.