Crypto Executives Urge Congress to Keep Exception for Developers

High-profile cryptocurrency industry executives from A16Z Crypto, Block, Coinbase, and others are banding together to call on Senate leaders to keep a provision in a regulatory bill that’s a top congressional priority for the sector.

The executives are sending a letter Tuesday to Senate Majority Leader John Thune (R-S.D.) and Minority Leader Chuck Schumer (D-N.Y.) making an appeal for the chamber to keep in place a bipartisan policy that would make clear that software developers aren’t subject to regulations for money transmitters. They are lobbying for it to stay in a sweeping regulatory structure bill (H.R. 3633) dubbed ...