Over 100 crypto entities urge lawmakers to protect developers or risk support for bill

最新报道:According to Bijie.com, over 100 cryptocurrency entities are calling on lawmakers to protect software developers as they consider how to regulate the digital asset industry. The DeFi Education Fund (DEF), along with the Blockchain Association, the Digital Chamber, Stand with Crypto, and several cryptocurrency companies including Coinbase, Paxos, and Uniswap Labs, are urging Senate committee leadership to include their demands in market structure legislation. Stakeholders expressed their inability to support market structure legislation without the requested protections. "In the largest coalition of cryptocurrency advocacy in history, over 110 organizations, builders, and investors have come together with DEF to ask congressional leaders to protect software developers and non-custodial service providers in federal market structure legislation," said Amanda Tuminelli, executive director of the DeFi Education Fund, in a statement. "This issue unites the cryptocurrency industry." The letter was sent to the leadership of the Senate Banking and Agriculture Committees, two committees that will play a significant role in shaping cryptocurrency legislation. Over the past year, lawmakers in the House and Senate in Washington, D.C., have been working to develop legislation to comprehensively regulate the cryptocurrency industry. Senate Banking Committee Republican Chairman Tim Scott released a discussion draft on the structure of the broader cryptocurrency market last month, imposing a self-imposed September 30th deadline for committee action. Last month, the full House of Representatives passed a market structure bill, the Digital Asset Market Clarity Act. Ultimately, the House and Senate will have to decide on the final version of the bill. Regarding protections for software developers, a senior Justice Department official said last week that "writing code" is not a crime, marking a significant shift in how prosecutors plan to view them. Cryptocurrency stakeholders said Wednesday that the House and Senate versions of the market structure legislation need to be supplemented to protect self-custody and the ability to conduct peer-to-peer transactions, and urged the inclusion of such changes. "These protections must clearly state that no person or entity may be regulated solely for engaging in activities related to creating, developing, launching, and maintaining the core of a blockchain network, or for allowing users to access such a network through a software interface while maintaining custody of their own funds," they said. Their letter comes amid growing tensions between traditional finance and the cryptocurrency industry over how the digital asset industry should be regulated, as reported by Politico earlier this week. The largest banking association has been urging lawmakers to amend the stablecoin bill signed into law last month due to concerns about interest payments, state regulation, and the issuance of stablecoins by non-financial companies. Meanwhile, the Securities Industry and Financial Markets Association, which represents financial firms, has urged the Securities and Exchange Commission to deny digital asset companies the opportunity to offer tokenized shares through specific exemptions and instead adopt a more transparent approach. Lawmakers will return to Washington next month.

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