112 crypto companies urge Senate to protect developers in market structure bill
Coinbase, Kraken, Ripple, a16z and others pressed the Senate to add explicit protections for developers and non-custodial services in the market structure bill.
A coalition of 112 crypto companies, investors and advocacy groups has called on the US Senate to include protections for software developers and non-custodial service providers in upcoming market structure legislation.
In a letter sent Wednesday to the Senate Banking and Agriculture Committees, the industry spoke “with one voice,” urging lawmakers to ensure developers and non-custodial actors are not misclassified as intermediaries under outdated financial rules.
“Provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter said. “Without such protections, we cannot support a market structure bill.”