365Crypto
A united crypto front is pushing back in Washington. Coinbase, Kraken, Ripple, a16z and nearly 110 others signed a letter to the US Senate. Their message: protect software developers and non-custodial services in the upcoming market structure bill.
The letter warned that without clear protections, developers could be misclassified as middlemen under old financial laws. That could crush innovation.
They pointed to data showing the US share of open-source blockchain developers dropped from 25% in 2021 to 18% in 2025. Uncertainty is driving talent overseas.
Crypto advocates say federal protections are key to stop brain drain, avoid state-by-state conflicts, and keep bipartisan progress alive. Groups like the Blockchain Association and the Digital Chamber added their names too.
Senator Cynthia Lummis expects the bill to hit Trump’s desk before year-end. It will decide how the SEC and CFTC oversee crypto markets. The timing? Likely before Thanksgiving.
