Over 110 cryptocurrency organizations, including major players like Coinbase, Kraken, Ripple, a16z, Uniswap Labs, and leading lobbying groups such as the DeFi Education Fund (DEF), Blockchain Association, and Crypto Council for Innovation, have sent a unified letter to the U.S. Senate Banking and Agriculture Committees. The coalition demands that upcoming digital asset market structure legislation include explicit protections for software developers and non-custodial service providers.
The letter, sent on August 27, 2025, states that the industry cannot support a market structure bill without robust nationwide safeguards ensuring developers are not held liable for bad actors misusing their technology. This stance echoes past advocacy efforts, including opposition to the 2021-2022 "crypto broker" rule proposal.
Senator Tim Scott, Chairman of the Senate Banking Committee, has vowed to complete work on the legislation by the end of September. The industry's political influence has grown significantly, with Fairshake and affiliate PACs spending over $130 million in recent elections and raising $140 million for upcoming efforts. Bipartisan support exists, as seen in the recent passage of the GENIUS Act for stablecoins, but the market structure bill represents the sector's biggest test.
Concerns remain that Senator Mark Warner may push for developer liabilities, and recent convictions in cases like Tornado Cash's Roman Storm have added pressure. While a Department of Justice official recently indicated prosecutors won't target developers unintentionally involved in money laundering, the industry seeks permanent legislative assurance.