Crypto groups push to add a bill that aims to protect software developers in overarching legislation
A group of cryptocurrency advocacy groups urged lawmakers to include legislation to protect software developers in a bill to regulate the digital asset industry at large.
The DeFi Education Fund, Coin Center, Solana Policy Institute, The Digital Chamber, Blockchain Association, Crypto Council for Innovation, and the Bitcoin Policy Institute issued a joint statement on Thursday asking for a bill that aims to do just that to be included in market structure legislation.
The bill, called the Blockchain Regulatory Certainty Act, would clarify that non-custodial crypto platforms — and the developers that build them — are not money transmitters or operators of an "unlicensed money services business." It was just reintroduced last month by Reps. Tom Emmer, R-Minn., and Ritchie Torres, D-N.Y.
The groups said on Thursday that specific software and infrastructure providers should not be treated the same as more traditional finance firms.
"As much-needed digital asset regulation develops in the United States, it is critically important to remember that developers creating peer-to-peer, non-custodial software and the infrastructure providers who enable decentralized networks have little in common with traditional financial institutions and should not be treated as such,"$RVN
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