Crypto Giants Urge Congress on Regulations

Crypto Industry Challenges DOJ’s Interpretation of Money Transmitter Laws

• The DeFi Education Fund and 34 crypto entities criticized the DOJ’s interpretation of criminal code as overly expansive.
• Signatories include Coinbase, Kraken, Crypto.com, Andreessen Horowitz, Paradigm, and Dragonfly.
• The DOJ’s stance threatens U.S.-based software development in digital assets and other industries.
• Section 1960 is central to the dispute; the DOJ is accused of misusing it to criminalize crypto activities.
• Tornado Cash co-founder Roman Storm faces charges under these interpretations, highlighting the issue.

The DeFi Education Fund argues that the DOJ’s interpretation of Section 1960 could harm software developers and seeks Congressional clarity on money transmitter definitions.