115 Crypto Firms Demand US Developer Protections in Market Bill
A coalition of 115 DeFi and crypto companies has urged the US Senate to include explicit protections for developers in upcoming market structure legislation. The letter, addressed to the Senate Banking and Agriculture committees, emphasizes that without such safeguards, they will not support the bill. The core concern is the potential misclassification of developers as financial intermediaries, exposing them to legal liabilities under laws like 18 U.S.C. § 1960, even when they don’t handle user funds. The coalition highlights the existing Blockchain Regulatory Certainty Act and Keep Your Coins Act as positive steps but argues for stronger, nationwide protections to preempt conflicting state regulations. They cite a decline in US-based open-source developers (from 25% in 2021 to 18% in 2025) as evidence of how regulatory uncertainty impacts talent and innovation. The lack of legal clarity creates business risks, potentially slowing or halting projects due to the fear of civil or criminal action. The coalition emphasizes the need for a clear distinction between building software for self-custody and operating financial services, urging Congress to avoid triggering money-transmitter rules for developers creating such tools. They point to the bipartisan support for the CLARITY Act as evidence of potential for broad support for these protections. The letter concludes with a plea for uniform, nationwide protections to prevent a fragmented regulatory landscape.
The coalition of cryptocurrency companies is urging Congress to include comprehensive digital asset protections for developers in the proposed legislation.
The proposed legislation aims to establish clearer regulatory frameworks that would benefit developers working on crypto monetary systems across the United States.
The coalition argues that comprehensive digital asset protections are essential for fostering innovation and maintaining America’s competitive edge in blockchain technology.
The coalition argues that robust developer protections are essential for maintaining innovation and security within emerging crypto monetary systems.
The coalition of cryptocurrency companies is urging lawmakers to include comprehensive digital asset protections for developers in the proposed legislation.
The coalition argues that robust developer protections are essential for maintaining innovation and security within emerging crypto monetary systems.
