The US Department of Justice takes a significant step towards cryptocurrency developers by changing its policy regarding accusations against their work. The new approach signifies the absence of prosecution for developers when there is no intent to facilitate criminal activity.
US Department of Justice and Cryptocurrencies
Assistant Attorney General Matthew Galeotti stated that the department will no longer pursue cryptocurrency developers if they create truly decentralized solutions. He pointed out that if the software merely automates peer-to-peer transactions without third-party control, new charges will not be approved.
Freedom for Open-Source Software
Developers who release their projects as open-source software will allow other developers to support these applications without knowing the identity of the original creator. This is significant for ensuring user privacy. The Tornado Cash project served as an example of such an initiative but was misused by fraudsters despite its legitimate intentions.
Expected Consequences of the New Approach
As noted by Amanda Tuminelli, Executive Director of the DeFi Education Fund, the DOJ's acknowledgment that developers should not be held accountable for the misuse of their code confirms their long-term stance. This move broadens the rights of developers, pertaining only to fully decentralized applications.
The DOJ’s change in stance signifies an important shift toward recognizing the rights of cryptocurrency developers. This could encourage safer and more transparent development of blockchain technologies and decentralized applications.
