⚖️ DeFi vs. Washington: 112 Crypto Giants Push Congress to Protect Devs

Coinbase, Ripple, A16z, Kraken, Uniswap, and 100+ others tell Congress: stop treating blockchain coders like criminals—or America will lose the DeFi race.

⚡ Quick Hits

• 🏛 112 institutions — from Coinbase to Galaxy Digital — signed the letter.
• 📉 U.S. open-source dev share: 25% (2021) → 18% (2025).
• ⚖️ Tornado Cash case: Roman Storm convicted → chilling effect on devs.
• 🇺🇸 Goal: Make the U.S. the “crypto capital of the world” with federal protections.

🚨 The Developer Exodus Risk

For decades, the U.S. has been the birthplace of the internet, social media, and AI. But in Web3? The talent is packing bags.

Why? “Regulation by prosecution.”

• Example: Tornado Cash co-founder Roman Storm convicted for “money transmitting.”
• Developers now fear that writing open-source code could land them in court.

Result: U.S. share of open-source blockchain work has dropped to 18%, as devs flee to friendlier jurisdictions.

🛡 What the Coalition Wants

The letter to Congress is blunt:

1. Treat code as neutral infrastructure. Don’t regulate devs like banks.
2. Protect non-custodial providers. Wallets ≠ intermediaries.
3. Stop criminalizing devs. No more “money transmitter” charges for open-source builders.
4. Preempt state patchwork. One clear nationwide rulebook.
5. Expand on the CLARITY + Keep Your Coins Acts. Make it bulletproof.

Without this, innovation slows, capital flees, and Europe + Asia eat America’s lunch.

🏦 Why It Matters for DeFi & Beyond

• DeFi runs on devs. No builders = no protocols, no liquidity, no innovation.
• Capital follows talent. If coders leave, so do VCs, treasuries, and users.
• National security angle. Losing leadership in decentralized finance = ceding ground to China and the EU in next-gen financial rails.

Crypto insiders say this is a bipartisan issue. Earlier bills like the CLARITY Act already won cross-aisle support. Protecting devs isn’t left vs. right—it’s about keeping America competitive.

🔮 The Bigger Picture

This isn’t just about crypto bros. It’s about whether the U.S. defines the next financial internet—or watches others do it.

• Open-source code is not a crime.
• Non-custodial tools are not banks.
• Developers shouldn’t be prosecuted for giving the world better infrastructure.

Fail here, and America’s shot at leading Web3 could vanish.

✍️ TL;DR

112 crypto heavyweights — from Coinbase to Ripple — just told Congress: protect blockchain developers now, or the U.S. loses its DeFi edge. With open-source participation already falling and Tornado Cash–style prosecutions scaring builders, the coalition wants laws that treat code as neutral infrastructure, not a financial intermediary. The ask: stop criminalizing devs, unify rules nationwide, and keep America the crypto capital of the world.