Two U.S. Senators from Major Parties Propose Outlining Legal Liability for Crypto Developers

By: theblockbeats.news|2026/01/13 12:30:12

0

Share

copy

BlockBeats News, January 13th, according to Decrypt, U.S. Senators Cynthia Lummis and Ron Wyden stated that they have reintroduced a bipartisan bill aimed at clarifying the specific circumstances under which cryptocurrency developers and infrastructure providers would be considered money transmitters under federal law. The bill, known as the Blockchain Regulatory Certainty Act, seeks to differentiate developers writing or maintaining blockchain software from financial intermediaries controlling customer funds.

Under the bill, as long as developers and infrastructure providers do not have the legal right or unilateral ability to move user digital assets, they would be excluded from the federal legal definition of money transmitter. Cynthia Lummis stated that developers solely writing code and maintaining open-source infrastructure should not be classified as money transmitters when they do not touch, control, or access user funds. Ron Wyden stated that imposing the same rules on code writers as on exchanges or brokers is technically infeasible and could infringe on privacy and free speech.

You may also like

Polymarket vs. Kalshi: The Full Meme War Timeline

Polymarket vs. Kalshi: The Full Meme War Timeline

The topic itself has become a growth engine, and this "flame war" may be their most effective business strategy.

Consensus Check: What Consensus Was Born at the 2026 First Conference?

Consensus Check: What Consensus Was Born at the 2026 First Conference?

Just concluded in Hong Kong, Consensus HK 2026 has set the stage for a new narrative this year.

Resigned in Less Than a Year of Taking Office, Why Did Yet Another Key Figure at the Ethereum Foundation Depart?

Resigned in Less Than a Year of Taking Office, Why Did Yet Another Key Figure at the Ethereum Foundation Depart?

The Ethereum Foundation once again finds itself at the crossroads of personnel turmoil.

Russian-Ukrainian War Prediction Market Analysis Report

Russian-Ukrainian War Prediction Market Analysis Report

By analyzing transaction patterns, validate the predictive market as a harbinger of truth in the new media order

Ethereum Foundation Executive Director Resigns, Coinbase Rating Downgrade: What's the Overseas Crypto Community Talking About Today?

Ethereum Foundation Executive Director Resigns, Coinbase Rating Downgrade: What's the Overseas Crypto Community Talking About Today?

What Have Foreigners Been Most Interested in the Last 24 Hours?

Who's at the CFTC Table? A Rebalancing of American Fintech Discourse

Who's at the CFTC Table? A Rebalancing of American Fintech Discourse

What on earth is the CFTC up to?

AI Trading vs Human Crypto Traders: $10,000 Live Trading Battle Results in Munich, Germany (WEEX Hackathon 2026)

AI Trading vs Human Crypto Traders: $10,000 Live Trading Battle Results in Munich, Germany (WEEX Hackathon 2026)

Discover how AI trading outperformed human traders in WEEX's live Munich showdown. Learn 3 key strategies from the battle and why AI is changing crypto trading.

Elon Musk's X Money vs. Crypto's Synthetic Dollars: Who Wins the Future of Money?

Elon Musk's X Money vs. Crypto's Synthetic Dollars: Who Wins the Future of Money?

How do Synthetic Dollars work? This guide explains their strategies, benefits over traditional stablecoins like USDT, and risks every crypto trader must know.

The Israeli military is hunting a mole on Polymarket

The Israeli military is hunting a mole on Polymarket

「The suspect's behavior has posed a significant operational risk and will be charged with serious security offenses.」

Q4 $667M Net Loss: Coinbase Earnings Report Foreshadows Challenging 2026 for Crypto Industry?

Q4 $667M Net Loss: Coinbase Earnings Report Foreshadows Challenging 2026 for Crypto Industry?

Coinbase reports $1.8B in total revenue in Q4 2025, with a $667M loss leading to a sharp drop in stock price.

BlackRock Buying UNI, What's the Catch?

BlackRock Buying UNI, What's the Catch?

DeFi has transitioned from "Experimental Finance" to "Infrastructure Finance."

Lost in Hong Kong

Lost in Hong Kong

When yesterday's glory becomes today's shackles, only the courage to break free from the shackles can win tomorrow.

Gold Plunges Over 4%, Silver Crashes 11%, Stock Market Plummet Triggers Precious Metals Algorithmic Selling Pressure?

Gold Plunges Over 4%, Silver Crashes 11%, Stock Market Plummet Triggers Precious Metals Algorithmic Selling Pressure?

An analysis suggests that metal prices experienced a sudden drop due to a suspected algorithmic trading sell-off, leading some investors to unwind their positions in commodities including gold and silver to access liquidity.

Coinbase and Solana make successive moves, Agent economy to become the next big narrative

Coinbase and Solana make successive moves, Agent economy to become the next big narrative

The new war around the Agent On-chain Economy has begun.

Aave DAO Wins, But the Game Is Not Over

Aave DAO Wins, But the Game Is Not Over

The Aave community has achieved a milestone victory on the topics of revenue and governance, but key disagreements regarding the boundaries of funding, branding, and power remain unresolved

Coinbase Earnings Call, Latest Developments in Aave Tokenomics Debate, What's Trending in the Global Crypto Community Today?

Coinbase Earnings Call, Latest Developments in Aave Tokenomics Debate, What's Trending in the Global Crypto Community Today?

What Was Trending Among Expats in the Last 24 Hours?

ICE, the parent company of the NYSE, Goes All In: Index Futures Contracts and Sentiment Prediction Market Tool

ICE, the parent company of the NYSE, Goes All In: Index Futures Contracts and Sentiment Prediction Market Tool

TradFi giants are moving into the crypto market at an unprecedented pace.

On-Chain Options: The Crossroads of DeFi Miners and Traders

On-Chain Options: The Crossroads of DeFi Miners and Traders

An Insurance Policy, a Money Printer

Polymarket vs. Kalshi: The Full Meme War Timeline

The topic itself has become a growth engine, and this "flame war" may be their most effective business strategy.

Consensus Check: What Consensus Was Born at the 2026 First Conference?

Just concluded in Hong Kong, Consensus HK 2026 has set the stage for a new narrative this year.

Resigned in Less Than a Year of Taking Office, Why Did Yet Another Key Figure at the Ethereum Foundation Depart?

The Ethereum Foundation once again finds itself at the crossroads of personnel turmoil.

Russian-Ukrainian War Prediction Market Analysis Report

By analyzing transaction patterns, validate the predictive market as a harbinger of truth in the new media order

Ethereum Foundation Executive Director Resigns, Coinbase Rating Downgrade: What's the Overseas Crypto Community Talking About Today?

What Have Foreigners Been Most Interested in the Last 24 Hours?

Who's at the CFTC Table? A Rebalancing of American Fintech Discourse

What on earth is the CFTC up to?

Popular coins

Latest Crypto News

05:01

In the past 24 hours, the entire network has liquidated $189 million, mainly from short positions

BlockBeats News, February 15th, according to Coinglass data, the entire network liquidated $189 million in the past 24 hours, with long liquidations totaling $40.85 million and short liquidations totaling $148 million.

00:01

Current mainstream CEX, DEX funding rate displays market flipping bearish again

BlockBeats News, February 14th, according to Coinglass data, Bitcoin maintained its range-bound movement, experiencing a short-term rebound breaking through $70,000. Currently, mainstream CEX and DEX funding rates indicate a market-wide shift to a bearish sentiment, as shown in the specific funding ...

00:01

「Ape Coin」 Trader Liquidates MEGA Short Position, Once Again Realizing Profit

BlockBeats News, February 14th, according to HyperInsight monitoring, the "WhaleTrader" (0x26359) closed a 1x leverage short position of 242,356 MEGA, ultimately profiting $17,800.Prior to this, the trader had shorted MON, LIT, and FOGO, making a total profit of $41,600.

00:01

The probability of the Fed holding interest rates steady in March is currently reported as 90.8%.

BlockBeats News, February 14th, according to CME's FedWatch tool, the probability of a 25 basis point rate cut by the Fed in March is currently 9.2%, while the probability of unchanged interest rates is 90.8%.

19:01

Voyager Digital's Ethos Capital Holdings Position Shows Unrealized Loss of Over $400 Million

BlockBeats News, February 14th, according to the latest 13F filing submitted to the U.S. SEC by Vanguard Group, the world's second-largest asset management firm, it currently holds a total of 5,653,110 shares of Circle stock CRCL (worth $339.4 million at the current price), with an entry cost of $73...