More than 30 crypto companies jointly urged the US to clarify the legal definition of "fund transmitter"

Odaily News Coinbase, Kraken, Uniswap Labs and other 34 crypto companies and foundations jointly wrote to the U.S. Congress, asking for clarification of the Department of Justice's broad interpretation of the definition of "fund transmitter" in Section 1960 of the Criminal Code, saying it threatens the development of non-custodial software in the United States. This provision was used to accuse Tornado Cash co-founder Roman Storm, causing industry concerns. The DeFi Education Fund stated that the current practice may convict ordinary developers and called on Congress to clarify the legislative intent and avoid the trend of "replacing regulations with criminal penalties" in law enforcement. (Decrypt)