Jonathan Rufrano

Policy Director @ The Digital Chamber--Web3 & AI
Yellow Lab Dogfather
Magic: The Gathering Player

[The Digital Chamber @DigitalChamber]

This year will dictate what the next 30 years look like in terms of US crypto leadership. The convergence of traditional finance and digital assets is closer than people think.
https://t.co/FmxzzAQ18F @CodyCarboneDC

[Birdnals @BirdnalsLAW]

🚨HUGE news from the SEC this morning! 🚨

The SEC’s Division of Trading and Markets released guidance today that clarifies the staff’s view as to whether certain user interfaces such as non-custodial wallets or front ends to blockchain-enabled software applications require registration with the SEC as broker-dealers.

Under the staff guidance, such interfaces do not require registration if they do not take custody of the assets, execute trades on the user’s behalf, or provide investment advice. Broker-dealer registration instead requires a facts and circumstances determination on whether the interface intermediates securities transactions (requiring registration) vs. facilitating user-directed activity (which does not require registration).

Yet another step closer to true self-custody and DeFi trading of securities!

Release available here: https://t.co/aXp7Yez0yp

[Jonathan Rufrano @rufranoxyz]

5/ The entire debate comes down to this:
Don’t regulate infrastructure like it’s an intermediary.
Get that right—and you unlock innovation and effective oversight.

[Jonathan Rufrano @rufranoxyz]

1/ DeFi breaks a core assumption in financial regulation:
that there’s always an intermediary.
But what if there isn’t?
This week, @DigitalChamber released its DeFi Policy Principles 🧵
https://t.co/CP8KSxtfOn

[Jonathan Rufrano @rufranoxyz]

4/ But accountability doesn’t disappear—it shifts.
When institutions use DeFi or deploy proprietary systems, they still carry:
→ compliance obligations
→ fiduciary duties
→ responsibility to users

[Jonathan Rufrano @rufranoxyz]

3/ Non-custodial DeFi isn’t a financial institution.
It’s infrastructure.
Open-source protocols, smart contracts, oracles—these are tools, not intermediaries.
And maintaining them doesn’t change that.

[Jonathan Rufrano @rufranoxyz]

2/ Regulation should follow control—not code.
If you control user assets or execute transactions → financial regulation applies.
If you’re publishing software → it shouldn’t.

[Jonathan Rufrano @rufranoxyz]

7/ We’re excited to contribute at this early stage and look forward to continued engagement with @NIST.
Agent identity systems will scale as fast as AI—and the choices made now will define trust in these systems for years to come.

[Jonathan Rufrano @rufranoxyz]

1/ @DigitalChamber's AI + Quantum and Compliance & Cyber Working Groups responded to @NIST’s RFC on Software & AI Agent Identity—offering recs on NCCoE’s proposed project.
Agentic AI means the ? is no longer “who logged in?”
It’s: who is accountable when software takes action?

[Jonathan Rufrano @rufranoxyz]

6/ Read our full response here: https://t.co/bLZVx6gnG8

[Jonathan Rufrano @rufranoxyz]

5/ Fourth: support delegation—without impersonation.
Agents should act on behalf of users, but never as users.
Clear separation between human and agent identity is essential for accountability and security.

[Jonathan Rufrano @rufranoxyz]

4/ Third: ensure every agent has an identity.
All agents—ephemeral or persistent—should follow a standardized schema.
But not all use cases require strong identity. Requirements should be risk-based, not one-size-fits-all.

[Jonathan Rufrano @rufranoxyz]

3/ Second: keep human readability core.
Agent-first systems may be faster to build—but risk creating a fragmented stack: one layer for machines, one for humans.
Agents are extensions of humans. Systems should reflect that.

[Jonathan Rufrano @rufranoxyz]

2/ First: start from existing identity standards.
NIST SP 800-63, OAuth/OpenID, ISO/IEC 18013 (mdoc), SPIFFE, and others provide strong foundations.
Building on what exists will accelerate adoption and reduce fragmentation.

[DeFi Education Fund @fund_defi]

@RepFitzgerald @RepBenCline @RepZoeLofgren To learn more about Promoting Innovation in Blockchain Development Act of 2026, you can read DEF's newest blog:

https://t.co/Elo8VVExSr

[will is 浪发 @livingwithwill]

On Wednesday July 23rd I interviewed Jonathan Rufrano Policy Director of the @DigitalChamber

Here's the full conversation about his career, the work he and the @DigitalChamber are doing, and the progress of the Clarity Act as it passes through the legislature of the USA 🦅🇺🇸

[Cody Carbone @CodyCarboneDC]

Protecting DeFi means protecting innovation and the developers who build it.

DeFi Education Fund (@fund_defi) and @amandatums are a force and proud to amplify their legislative efforts.

[The Digital Chamber @DigitalChamber]

TDC applauds the release of @POTUS' Working Group Report on Digital Assets: a significant step toward smart, responsible U.S. leadership in blockchain. Many of our recommendations and advocacy work made the final cut.

➡️ Full statement: https://t.co/QUmnOsiiLO

👇🧵 of wins:

[The Digital Chamber @DigitalChamber]

Our CEO, @CodyCarboneDC, is currently being briefed by Administration officials at the White House complex for the Digital Asset Report. The report outlines a three-year roadmap to guide regulators and solidify U.S. leadership in crypto innovation.

[The Digital Chamber @DigitalChamber]

2014➡️2025: What started as the world's first #blockchain trade association has become the leading voice for digital assets. Thank you to our members and advocates who championed blockchain adoption, financial freedom, and regulatory progress from Washington to the world.