U.S. Legislators Push Forward Draft Bill to Protect Blockchain Developers from Lawsuits

BlockBeats News, February 27th, according to Cointelegraph, a bipartisan group of lawmakers in the U.S. House of Representatives has introduced legislation aimed at preventing prosecution of software developers who do not hold or control others' cryptocurrency.

In a Thursday announcement, Representatives Scott Fitzgerald, Ben Cline, and Zoe Lofgren said they would support the "Promoting Innovation in Blockchain Development Act," seeking to change how potential criminal cases involving blockchain developers are handled.

The bill will clarify that U.S. federal law under the 1960 Travel Rule concerning the "Prohibition on Illegal Money Transmission Businesses" applies only to actors controlling others' digital assets. At least two cryptocurrency advocacy organizations have publicly supported the bill. The Blockchain Association called it a "critical step" to encourage U.S.-based developers. The DeFi Education Fund endorsed the lawsuit of developers like Roman Storm from Samourai Wallet.