30+ Cryptocurrency Companies Jointly Urge US Congress to Clarify "Money Transmitter" Legal Definition

Blockbeats03-27

BlockBeats News, March 27th: Coinbase, Kraken, Uniswap Labs, and 34 other crypto companies and foundations jointly wrote to the U.S. Congress to request clarification on the Department of Justice's broad interpretation of the "money transmitter" definition in Title 18, Section 1960, stating that it threatens US-based non-custodial software development. This provision has been used in the indictment of Tornado Cash co-founder Roman Storm, raising industry concerns. The DeFi Education Fund stated that the current practice may result in the conviction of ordinary developers and called on Congress to clarify legislative intent to avoid the enforcement trend of "using criminal law to supplement regulations" (Decrypt).

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