New Bill in the U.S. House of Representatives Sends Significant Signal: Cryptocurrency Developers May Be Exempt from Legal Liability!

The U.S. House of Representatives is about to review the latest version of the "Digital Asset Market Clarity Act" (H.R.4763), which suddenly adds a key provision that has ignited the cryptocurrency community: software developers may receive liability exemptions in certain circumstances!

This means that core blockchain developers and open-source contributors will no longer be held accountable for illegal activities conducted by others using their code or protocol. This provision stems from the previous legal dispute involving developer Alexey Pertsev, during which the community strongly protested the legal risks associated with the development process.

The bill also clearly delineates the rules for classifying digital assets as commodities or securities for the first time, targeting the current ambiguous regulatory stance of the U.S. SEC. Legislators believe this provides unprecedented legal certainty for the cryptocurrency market.

Some analysts argue that this change is essentially a form of amnesty, akin to regulators extending an olive branch to the cryptocurrency development community. The Financial Innovation Alliance states that this bill will "provide a crucial legal shield for crypto innovators."

However, the bill harbors greater ambitions: at its core is the battle for dominance in the field of digital currency in the U.S. Just last month, Coinbase's Chief Legal Officer Paul Grewal publicly called for bipartisan support for the bill. The political lobbying by industry leaders is evidently having an effect.

But experts from the Brookings Institution warn: the liability exemption clause could become a "Trojan Horse" for regulators! While the bill grants some freedoms, it is systematically expanding the jurisdiction of the U.S. Securities and Exchange Commission over crypto assets.

Upon the release of the bill, Bitcoin surged by 3%, with the market casting a vote of confidence in real terms. The previous version of the bill had caused the entire cryptocurrency market to evaporate $120 billion in market value in a single day due to regulatory disputes — can developers truly break free this time? The global blockchain industry is holding its breath!

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