Defi Education Fund has written a letter to the US Senate Bank Committee with the support of over 110 Crypto Builders, Investors and Advocates, calling on Congress to “provide robust, nationwide protection for software developers and non -contradictory service providers in market structure law.”
The letter signed by the Bitcoin Policy Institute, Blockchain Association and Digital Chamber to name a few of the signatories say that the crypto -market structure legislation should protect developers if the wider industry is to support it.
“Without such protection, we cannot support a bill on market structure,” reads the letter.
The letter draws a line between the legislative framework that exists for the “traditional, intermediate financial world” and the world of open source development, which requires the protection of developers not to force them to “incapacitated regulatory categories.”
If the United States is to fulfill President Trump’s vision of becoming “Crypto Capital of the World,” the letter says, it should continue to welcome advanced software development in the digital space as it has since the earliest days on the Internet.
According to the letter, the total proportion of open source developers fell based in the US from 25% by 2021 to 18% by 2025, which is attributed to a “lack of regulatory clarity for software development.”
The letter expresses gratitude for both parliament and the Senate, which has included languages from both Blockchain Regulatory Security Act (BRCA) and KEEP Your Moins Act that protect developers of non -dispensing crypto software in their respective drafts of the Clarity Act.
It emphasized that it is imperative that these protections are kept in the bill and that “these protections must explicitly make no individual or unit subject to regulation solely to participate in activities that are the core of creating, developing, publishing and maintaining blockchain networks, nor to allow users to access such networks through software foundations. ”
Finally, the letter points out that the protection of software developers is a top species question that highlights the fact that a Bipartisan supermajority of 294 members of the Representant House voted for the Clarity Act and calls on the Senate to improve developer protection in its draft bill.