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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Daily (March 11): SEC and CFTC sign Memorandum of Understanding; US requests re-examination of Tornado Cash co-founders
Bitcoin (BTC) is currently maintaining a price of around $70,000. The Chairman of the U.S. Securities and Exchange Commission (SEC) announced that they will coordinate with the Commodity Futures Trading Commission (CFTC) for joint meetings regarding product applications. Additionally, the case of Tornado Cash co-founder Roman Storm will be retried. The market is volatile due to geopolitical influences, and investor sentiment is poor, but a significant decline in the short term is unlikely.
MarketWhisper31m ago
U.S. SEC Chair: Collaboration with CFTC will include joint meetings and joint inspections
SEC Chairman Paul Atkins stated that the SEC and CFTC are drafting a memorandum of understanding to strengthen cooperation, enhance regulatory coordination, and prevent companies from being subjected to dual regulation. The two agencies will handle product applications through joint meetings and a new website, and promote the development of "super apps" to enable users to conveniently complete cross-agency transactions.
GateNews45m ago
Trump's tax cuts bring a $3,700 refund, but cryptocurrency taxes remain unchanged
The Trump administration's "Middle-Class Tax Relief" policy showed results in the 2026 tax season, processing over 63.5 million tax returns with an average refund of over $3,700, but it did not cover cryptocurrency taxation rules. Cryptocurrency investors still need to report capital gains taxes according to current tax laws. The newly launched "Trump Account" program also offers government funding, but the complex tax reporting situation for cryptocurrencies remains.
MarketWhisper57m ago
U.S. lawmakers propose: Remove the sunset clause in 2030 and advocate for a permanent ban on issuing CBDCs
Cruz proposal to remove the sunset clause on the CBDC ban, aiming to permanently prohibit the Federal Reserve from issuing digital dollars, intensifies the congressional debate over digital currency.
Senator introduces amendment advocating for a permanent ban on the United States issuing CBDC
-----------------------
The U.S. Congress's debate over Central Bank Digital Currency (CBDC) policies has heated up again. According to reports
CryptoCity1h ago
U.S. Senators Seek Compromise on Stablecoin Yields, Advance the CLARITY Act
U.S. senators are working to pass a bipartisan compromise on stablecoin yield issues to advance the stalled Cryptocurrency Market Structure Act CLARITY. The banking industry has expressed concerns, believing it could impact deposits. Both sides may need to compromise, exploring a balance between innovation and preventing deposit outflows.
GateNews1h ago
