TREE NEWS reports: Coin Center said the latest revised BRCA text removes explicit criminal liability protection for developers who do not control user funds under 18 U.S.C. § 1960. The revised text still shields non-custodial developers from being treated as money transmitters under the Bank Secrecy Act and FinCEN rules, but it does not block prosecutors from arguing developers knowingly transmitted funds from criminal activity — the theory central to cases against Tornado Cash’s Roman Storm and Samourai Wallet developers. Coin Center called the compromise substantive regulatory progress, though DOJ money-transmission theories remain.
Coin Center: Revised BRCA Drops Explicit Criminal Shield for Non-Custodial Developers
AI take
The distinction matters because money-transmitter exposure and criminal money-laundering exposure are separate risks, and the revision addresses only the former. For non-custodial developers, the BSA and FinCEN carve-out offers limited comfort while the DOJ theory that code authors knowingly transmit criminal proceeds remains available to prosecutors. Whether Congress narrows that theory in later text, or courts resolve it first in the pending cases, is the open question shaping developer risk.
Generated by AI for reference only.
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