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 such developers from being treated as money transmitters under the Bank Secrecy Act and FinCEN rules, raising the bar for prosecuting them over unlicensed money transmission. But it does not block prosecutors from arguing developers knowingly transmitted criminal proceeds — the theory central to the Roman Storm and Samourai Wallet cases.
Coin Center: Revised BRCA Drops Explicit Criminal Shield for Non-Custodial Developers
AI take
The revision narrows the bill's practical effect: BSA and FinCEN exposure is addressed, but the criminal-proceeds theory that has driven the highest-profile non-custodial prosecutions is left untouched. That distinction matters more to developers of privacy and self-custody tools than to exchanges, since it leaves the core legal risk in the Storm and Samourai matters unresolved. Whether prosecutors continue to press that theory, or courts narrow it, is the open question.
Generated by AI for reference only.
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