TREE NEWS update: Coin Center said the revised BRCA text removes explicit criminal liability protection for developers who do not control user funds under 18 U.S.C. § 1960, though it still shields them from being treated as money transmitters under the Bank Secrecy Act and FinCEN rules. The change does not block prosecutors from arguing developers knowingly transmitted criminal proceeds — the theory central to the Roman Storm and Samourai Wallet cases. Coin Center called the compromise substantive progress, but warned broader DOJ money-transmitting theories remain.
Coin Center: Revised BRCA Drops Explicit Criminal Safe Harbor for Non-Custodial Developers
AI take
The distinction matters because it splits two legal fronts that are often conflated: BSA/FINCiN registration exposure and criminal money-transmitting liability. Non-custodial developers may still face the latter, leaving the prosecutorial theory tested in the Roman Storm and Samourai Wallet matters intact. Coin Center's own framing — substantive progress, unresolved DOJ theories — is the tension worth tracking, particularly whether courts or Congress, rather than statute text, end up defining where non-custodial software sits.
Generated by AI for reference only.
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