Wyoming Senator Cynthia Lummis has voiced concerns about the U.S. Department of Justice’s recent actions targeting developers of self-custody cryptocurrency wallets. She expressed discomfort with what she sees as an overly aggressive approach that contradicts the U.S. Treasury guidelines and threatens the fundamental property rights of American citizens.
In a statement posted on X (formerly Twitter), Senator Lummis expressed her views, stating,
“I am deeply troubled by the Department of Justice’s hyper-aggressive argument that non-custodial software can constitute a money transmission service. This stance contradicts existing Treasury guidance, common sense, and violates the rule of law.”
I am deeply concerned by the Biden administration criminalizing core tenants of the Bitcoin network and decentralized finance.
My full statement. ⬇️ pic.twitter.com/M3CHcNTi3x
— Senator Cynthia Lummis (@SenLummis) May 1, 2024
Senator Lummis emphasized the importance of protecting individual rights in the crypto space, stating, “Arguments against self-custody software threaten the fundamental property rights that are core to being an American. I will do everything I can to fight for your rights to hold your own keys and run your own node.”
The senator’s remarks come in response to the DOJ’s assertion that money transfer laws now cover wallet developers who have no custody or control over users’ crypto assets.
RELATED: What Are Custodial And Non-Custodial Crypto Wallets?
Notably, the Justice Department’s recent legal actions target prominent figures in the crypto community, including the founders of Samourai Wallet, a privacy-focused Bitcoin wallet and mixer service. The Department accused Keonne Rodriguez and William Lonergan of conducting over $2 billion in “illegal transactions” and operating without a money transfer license. Rodriguez was recently arrested in Pennsylvania, while Lonergan was apprehended in Portugal.
Another notable case involves Roman Storm, the developer of Tornado Cash, a crypto mixer tool. Storm faces charges of money laundering and violating sanctions, allegations he vehemently denies. However, the Justice Department’s swift response to block Storm’s request for dismissal underscores the Department’s aggressive stance on regulating crypto-related activities.
RELATED: What Are Crypto Mixers? – A Comprehensive Overview of Tornado Cash
These moves from the DOJ have attracted critical responses within the crypto community, particularly among those advocating for DeFi and the fundamental principles of the Bitcoin network. Notably, advocacy group DeFi Education Fund’s legal Chief, Amanda Tuminelli, criticized the Department’s Prosecution of Tornado Cash Developer and labelled it as a “disregard for privacy.”
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