The U.S. Department of Justice will not prosecute developers of decentralized and non-custodial software under Section 1960(b)(1)(C).
This decision was announced at the industry conference in Wyoming; however, other charges may still apply if criminal intent is discovered.
MAIN CONTENT
The U.S. Department of Justice ceases to prosecute developers of decentralized software under Section 1960(b)(1)(C).
The policy was announced by Matthew Galeotti at the conference in Wyoming.
Individuals involved may still be prosecuted if there is clear criminal intent.
How has the U.S. Department of Justice changed its approach to decentralized software?
According to information from the U.S. Department of Justice, they will no longer prosecute developers of truly decentralized and non-custodial software under Section 1960(b)(1)(C). This is a step to distinguish between technology development and criminal behavior, reflecting a deeper understanding of the technical characteristics of cryptocurrency and Blockchain technology.
This policy was announced by Mr. Matthew Galeotti, Acting Chief of the Criminal Division of the Department of Justice, at the industry conference held in Wyoming. This non-prosecution helps mitigate the risk of stifling technological innovation because previous outdated legal regulations could lead to developers being wrongfully sued for misunderstandings about decentralized software.
How does the new regulation affect software developers and the cryptocurrency community?
The new policy allows developers of decentralized software to operate more safely without fear of prosecution under Section 1960(b)(1)(C), which has previously been a significant barrier. This contributes to the sustainable development of the cryptocurrency market and Blockchain technology in the United States.
At the same time, the Department of Justice also emphasizes that if there is clear evidence of criminal intent, individuals will still be held criminally liable under other provisions. This reflects a balance between facilitating innovation and controlling illegal behavior.
This decision reflects a deeper understanding of new technologies and will help the cryptocurrency industry grow within a framework of transparent laws.
Matthew Galeotti, Acting Chief of the Criminal Division of the U.S. Department of Justice, August 22, 2023
What cases can still be prosecuted despite the new policy?
While ceasing to prosecute developers of decentralized software under Section 1960(b)(1)(C), the Department of Justice will still monitor and rigorously address criminal activities with clear intent. A prime example is the case of Roman Storm, co-founder of the Tornado Cash transaction filtering software, who was previously convicted and faced a prison sentence of up to 5 years.
This shows that the authorities clearly distinguish between criminal motives and legitimate software development activities, aiming to protect users and maintain law and order in the cryptocurrency market.
Frequently Asked Questions
What does the U.S. Department of Justice's cessation of prosecuting developers under Section 1960(b)(1)(C) mean?
This means that the Department of Justice will not prosecute programmers developing decentralized and non-custodial software as they are not considered criminal acts under this statute.
When and by whom was the new policy announced?
Mr. Matthew Galeotti announced this policy at the industry conference held in Wyoming on August 22, 2023.
Which individuals can still be prosecuted despite this policy?
Any individual who commits a crime with clear intent can still be prosecuted under other statutes, for example, the case of Roman Storm.
How does this policy affect the cryptocurrency community?
Helps reduce legal barriers for developers, promoting innovation and sustainable development of Blockchain technology in the United States.
Source: https://tintucbitcoin.com/bo-tu-phap-my-ngung-truy-to-nha-phat-trien/
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