🚀 U.S. Senators Ron Wyden and Cynthia Lummis are challenging the Department of Justice's (DOJ) interpretation of law in prosecuting crypto mixing services like Tornado Cash and Samourai Wallet. They argue these services aren't money transmitters, a view supported by past Treasury Department interpretations.
🔍 The senators are concerned that treating software developers as criminals for writing and publishing code used by others could set a dangerous precedent, contradicting decades of settled law and raising First Amendment concerns.
💼 The DOJ's stance that anything facilitating the transfer of funds is a "money transmitter" is under scrutiny. The senators argue that the rule requires the service to actually control the funds to be treated as a transmitter.
🗣️ "Wallet software is no more to blame for illicit finance than a highway is responsible for a bank robber's getaway car," says Lummis.
📜 As Congress grapples with digital asset legislation, the future of the industry hangs in the balance. What do you think about this? Let's discuss in the comments! #CryptoNews #Blockchain #DOJ