The industry-supported Promoting Innovation in Blockchain Development Act could be a solution by Congress to push back against criminalizing writing code.
A bipartisan group of lawmakers in the US House of Representatives has introduced legislation aimed at halting prosecution of software developers who do not have custody or control of others’ crypto assets.
In a Thursday notice, Representatives Scott Fitzgerald, Ben Cline and Zoe Lofgren said that they would be sponsoring the Promoting Innovation in Blockchain Development Act in an effort to change how criminal cases involving blockchain developers are handled.
The bill would clarify that Section 1960 under US federal law, on the “prohibition of illegal money transmitting businesses,” would apply only to actors with control of others’ digital assets.
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