Crypto Industry Demands Protection for Developers, Risk Losing Crucial Support

A coalition of prominent crypto players, led by the DeFi Education Fund, has sent a stark message to the Senate Banking and Agriculture Committees: safeguarding developers is crucial for securing support for proposed market structure legislation. The group’s letter warns against misclassifying developers as financial intermediaries under outdated laws, arguing that such actions would severely impact market innovation. 25% of global blockchain developer talent was housed in the US just two years ago; a recent decline in numbers underscores the urgency for clear regulations and robust safeguards.