An alliance of 112 cryptocurrency companies, investors, and advocacy organizations is calling on the U.S. Senate to provide protections for software developers and non-custodial service providers in upcoming market structure legislation.
In a letter submitted to the Senate Banking and Agriculture Committees on Wednesday, the industry condemned lawmakers 'in one voice' to ensure that developers and non-custodial roles are not misclassified as intermediaries.
"Provide strong protections for software developers and non-custodial service providers in market structure legislation," the letter states, "without such protections, we cannot support the market structure bill."
Signatories include Coinbase, Kraken, Ripple, a16z, Uniswap Labs, and nearly all major U.S. cryptocurrency lobbying groups, from the Blockchain Association to the Digital Chamber of Commerce.
Advocates point out that the U.S.'s advantage in open-source development could be lost due to a lack of strong protections. The letter cites data from Electric Capital, showing that the share of U.S. open-source blockchain developers has dropped from 25% in 2021 to 18% in 2025, primarily due to regulatory uncertainty.
They added that such safeguards are crucial to prevent innovation from leaving the U.S., avoid conflicts with state laws, and based on
Finally, Senator Cynthia Lummis stated that the digital asset market structure bill will be delivered to President Trump by the end of the year, aiming to pass through the Senate Banking and Agriculture Committees.