In a unique show of unity, 112 giants of the cryptocurrency world have issued a direct and uncompromising message to the US Senate: protect the people building the future of digital finance, or we will not support your landmark legislation.
A coalition of 112 entities – including household names like Ripple, Coinbase, Kraken, and more – demands explicit protections for software developers and non-custodial service providers in the forthcoming crypto market structure bill.
Notably, the coalition opposes the potential misapplication of age-old financial regulations to the new realities of blockchain technology.
Submitted on 27 August 2025, the letter said, “As much-needed digital asset law develops in the United States, it is critical that legislation recognizes and preserves the historical protections afforded to open-source software development, and ensures that software developers and non-custodial service providers who create, support, and enable access to decentralized networks are not forced into unworkable regulatory categories designed for the traditional, intermediated financial world.”
When it comes to developer's rights, it's pretty unanimous. Protecting software developers and non-custodial service providers is a no brainer.
Over 100+ different state organizations, blockchains, advocacy groups, etc all signed this letter to Senators for consideration in the… https://t.co/8sbA9a06Dy
— CULLAH (@CullahMusic) August 27, 2025
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What is the “Market Structure Bill” anyway?
For years the US crypto industry struggled to deliver regulatory clarity, constantly caught in a tug-of-war between the Securities and exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The Market Structure Bill aims to finally provide a comprehensive framework for regulating digital assets.
The letter highlights a concerning trend as American dominance in the crypto space slips. The coalition backed its warning with alarming data. The letter said, “The total share of open-source software developers in the US dropped from 25% in 2021 to 18% in 2025” – a trend largely attributed to the lack of regulatory certainty for software development.”
Read the full letter here: https://t.co/fId4oR2hqp
— DeFi Education Fund (@fund_defi) August 27, 2025
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“Absent legislation, the US will continue to cede software development ground due to regulatory uncertainty”
According to the coalition, without the mentioned safeguards, the US risks not only stifling innovation but actively pushing its brightest minds and most promising projects to more welcoming shores.
“To create an environment in which innovators across America can confidently and safely build financial infrastructure, the final version of market structure legislation must include explicit federal protections for blockchain infrastructure developers and non-custodial service providers,” the coalition said.
Keeping in line with US President Donald Trump’s promises to the crypto, the letter pointed out that the President’s Working Group Report on Digital Assets recently stated, “reversing the decline of blockchain development in the United States is central to the goal of making America the crypto capital of the world.”
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Key Takeaways
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The letter explicitly states that for America to foster an environment where “innovators can confidently and safely build,” the final market structure bill must include federal protections for these developers.
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The letter builds on the foundation of previous legislative efforts, such as the CLARITY Act, which garnered significant bipartisan support for its pro-innovation stance.
The post 112 Crypto Firms Call on US Senate to Protect Developers: Ripple, Coinbase, Kraken Make the List appeared first on 99Bitcoins.
