Senators Criticize DOJ’s Handling of Non-Custodial Crypto Services Regulations
Tuesday, 14 May 2024, 06:46
Senators Criticize DOJ’s Stance on Non-Custodial Crypto Services
Senators Wyden and Lummis have expressed serious concerns about the Department of Justice's approach to non-custodial crypto services, warning of potential innovation stagnation and criminalization of developers.
Key Points:
- Regulatory Conflict: The senators assert that the DOJ's interpretation conflicts with established FinCEN guidelines.
- Threat to Innovation: They warn that the DOJ's stance could hinder innovation in the crypto sector.
- User Control: Non-custodial services allow users to retain control over their assets without third-party involvement.
Senators Wyden and Lummis urge the DOJ to reevaluate its position to support technological advancements and legal clarity.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.