Crypto bill stalled over "non-custodial developer" clause. U.S. Senator Tim Scott's bill faces a deadlock between law enforcement & crypto industry.
The dispute centers on exempting developers who don't control customer funds from money transmitter registration & AML compliance.
Law enforcement groups (Nat'l Sheriffs' Assoc., NDAA) oppose, fearing regulatory loopholes and impaired financial crime tracking.
Industry advocates (DeFi Education Fund, Sen. Cynthia Lummis) argue coding is free speech & developers not handling funds shouldn't be money transmitters.
#crypto #blockchain #news
Blockchain Report
npub1cg…nmysr
2026-04-09 09:25:06 UTC
Author Public Key
npub1cg2ejqexhx88llcve0yxts2exv5q9k0a88l69q0vp7y5n0f2xyfscnmysrPublished at
2026-04-09 09:25:06 UTCEvent JSON
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"content": "Crypto bill stalled over \"non-custodial developer\" clause. U.S. Senator Tim Scott's bill faces a deadlock between law enforcement \u0026 crypto industry.\n\nThe dispute centers on exempting developers who don't control customer funds from money transmitter registration \u0026 AML compliance.\n\nLaw enforcement groups (Nat'l Sheriffs' Assoc., NDAA) oppose, fearing regulatory loopholes and impaired financial crime tracking.\n\nIndustry advocates (DeFi Education Fund, Sen. Cynthia Lummis) argue coding is free speech \u0026 developers not handling funds shouldn't be money transmitters.\n\n#crypto #blockchain #news ",
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}