According to The Block, the Solana Policy Institute released an open letter on Wednesday calling for stronger legal protections for software developers following the conviction of Tornado Cash developer Roman Storm. Institute President Kristin Smith and CEO Miller Whitehouse-Levine warned that Storm's case is "not an isolated incident," but rather a test of whether the U.S. will continue to support open innovation. The latest draft of the Senate Banking Committee's bill now includes the Blockchain Regulatory Certainty Act (BRCA), which clearly states that non-custodial software developers should not be considered money transmitters. The crypto community has already raised over $6.3 million to support Storm's legal defense, and industry figures such as Ethereum co-founder Vitalik Buterin have publicly voiced their support.
Solana Policy Institute Calls for Legal Protections for Software Developers
TechFlowShare
Summary
The Solana Policy Institute has called for stronger regulatory policies to protect software developers, citing the Tornado Cash case as a pivotal legal test. Institute leaders stated that the conviction of developer Roman Storm could stifle open innovation. The Senate Banking Committee has now included the Blockchain Regulatory Certainty Act, which aims to clarify that non-custodial developers are not money transmitters. The CFT (Countering the Financing of Terrorism) framework remains central to the ongoing debate. Over $6.3 million has been raised to support Storm, with Ethereum co-founder Vitalik Buterin supporting the legal challenge.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.