Why Crypto Developers Still Need Courts to Protect Them — Even If Prosecutors Promise Not to Charge
(92 days ago) · 1 source · Summarized by CryptoBipto
Coin Center argues that non-prosecution promises from the DOJ or other agencies are insufficient to protect cryptocurrency developers from money transmission charges. The advocacy group is calling for definitive court rulings that clarify whether writing and deploying open-source code constitutes money transmission under existing law.
WHY IT MATTERS
Imagine you write a recipe for a cake and post it online for free. If someone uses that recipe to bake a cake that makes people sick, should you be held responsible — or the person who actually baked it? That's essentially the debate here, but with software code instead of recipes. Right now, the government has informally said it won't go after developers who write crypto tools, but those promises can change with a new administration. Coin Center is saying developers need actual court rulings — like legal precedents — that permanently clarify they're not breaking the law just by writing code. Without that, building in crypto remains risky, which could push innovation overseas.
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