Overview

• The DeFi Education Fund coordinated a letter to the Senate Banking Committee from 114 organizations warning they will not back a market‑structure bill without explicit safeguards for software developers and noncustodial services.
• The coalition asks the Senate to state that developers are not money transmitters under 18 U.S.C. 1960 and to federally preempt any conflicting state requirements.
• Signatories include Coinbase, Kraken, Andreessen Horowitz, Grayscale, Paradigm, Solana Labs, Uniswap Labs, and lobbying groups such as the Chamber of Progress.
• The groups praise the House‑passed CLARITY Act but argue the Senate draft must go further to shield developers from criminal liability tied to third‑party misuse of code.
• Citing the Tornado Cash case involving developer Roman Storm, the letter argues recent enforcement shows why statutory protections are needed despite recent DOJ assurances about ‘truly decentralized’ software.