What You Should Know:
- A senior official from the U.S. Department of Justice (DOJ) addresses concerns from the crypto industry, emphasizing that the DOJ is not pursuing developers of digital assets without evidence of malicious intent.
- The official delivered a speech to an audience of crypto advocates in Wyoming, highlighting that the DOJ will not use criminal charges to impose a new regulatory framework.
In a recent address to cryptocurrency developers in Wyoming, Matthew Galeotti, the DOJ’s Acting Assistant Attorney General, made it clear that there is no intention of prosecuting developers who write code without any illegal intentions. Referring to recent controversies regarding software developer convictions, Galeotti stated, “The department will not use federal criminal statutes to fashion a new regulatory regime over the digital asset industry.”
This reassurance comes amid a backdrop of notable recent court rulings, wherein U.S. prosecutors successfully convicted certain crypto developers, such as Tornado Cash developer Roman Storm. Storm was found guilty of operating unlicensed money transmissions.
Galeotti reiterated that “merely writing code without ill intent is not a crime” and noted that the DOJ seeks to prevent scenarios where developers are left uncertain about the legal implications of their work. He further emphasized that anyone misusing tools for unlawful ends should be the one prosecuted, not the creators of the software.
With the protection of software developers being a critical point in bipartisan negotiations over crypto legislation, these developments are viewed as a positive step towards a more favorable legislative environment for innovators in the digital asset space.
