Crypto CEOs Fight for Developer Protection in New US Law

Major cryptocurrency companies are joining forces to protect software developers from potential legal troubles.

Over 60 CEOs from companies like Coinbase (a crypto exchange), Kraken, and Solana Labs sent a letter to US Senate leaders. They want the Senate to pass a new law called the Digital Asset Market Clarity Act — but only if it includes special protections for developers (people who write computer code).

Here's what's happening:

• The problem: Right now, developers who create crypto software could face criminal charges for "money transmission" (moving money without a license), even if they never touch users' funds • The solution: Section 604 of the new law would protect developers who don't control users' money from these charges • The stakes: Without this protection, companies say developers might stop building crypto projects in the US

The law already passed the House of Representatives with strong support (294-134 vote). The Senate Banking Committee approved it in May, but it still needs:

• Full Senate approval (needs 60 votes) • Agreement between Senate and House versions • President Trump's signature

Why this matters: If developers face legal risks just for writing code, innovation in cryptocurrency could move to other countries. The crypto industry sees this protection as "non-negotiable" — meaning they won't support the law without it.

The earliest this could become law is August 2026, but some senators warn "nobody is popping champagne yet" as significant hurdles remain.

This is an AI-generated summary. Read the original article at: https://bitcoinmagazine.com/news/crypto-leaders-urge-to-pass-clarity-act