The crypto industry unites to demand developer protection in new Senate bill

A coalition of 114 technology and crypto companies, including major names like Coinbase, Grayscale, and Solana Labs, has sent a letter to the U.S. Senate Banking Committee, requesting the inclusion of legal protections for software developers in the upcoming crypto market structure bill. #America

Concerns about criminal liability and innovation

The letter emphasizes that decentralized software developers should not be held criminally liable for how others use their programs. They compare public blockchains to neutral infrastructures like roads or the internet. This coalition warns that without clear protections, they will not support the bill, especially after the case of Tornado Cash developer, Roman Storm, being convicted.

Calling for Senate action

The letter also urges the Senate to clarify that software developers cannot be prosecuted as money transfer business operators. The coalition argues that without these protective measures, the bill will stifle innovation, hinder the development of open-source software, and push blockchain projects out of the U.S. Although the Department of Justice has made some reassuring statements, the crypto industry still wants clear and strong protections in law to ensure sustainable development. #anhbacong