ChainCatcher reports that Eleanor Terrett revealed that U.S. Republican lawmakers Fitzgerald (Wisconsin) and Cline (Virginia), along with Democratic lawmaker Lofgren (California), jointly introduced the “Blockchain Development and Innovation Act,” aimed at clarifying the scope of Section 1960 of the Criminal Code.
The bill explicitly states that Section 1960 applies only to entities controlling customer funds, not to developers who simply write code. Previously, cases involving TornadoCash and Samourai Wallet saw regulators applying this provision to non-custodial software developers, sparking strong backlash from the crypto industry. This bill will provide legal protection for blockchain developers and address the long-standing conflict between crypto innovation and regulation.
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