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Joint law enforcement opposition has emerged against protections for DeFi developers in the U.S. Senate’s Cryptocurrency Market Structure Act.
ME News report: On April 9 (UTC+8), multiple law enforcement groups, including the U.S. Marshals Service and the National District Attorneys Association, have recently sent letters to members of Congress opposing a provision in the Senate Cryptocurrency Market Structure Act that protects DeFi software developers from being designated as money transmitters. They argue that this provision would weaken the law enforcement agencies’ ability to combat financial crimes. Senate Banking Committee Chair Tim Scott and Senator Cynthia Lummis insist that the provision cannot be changed, and the crypto industry has also clearly stated that it does not accept amendments that alter the substance of the text. Democratic Senator and Judiciary Committee Chair Chuck Grassley and others have called for adjusting the wording; after Congress adjourns, whether the bill can gain bipartisan support to move forward to committee review remains undecided. (Source: Foresight News)