Over 100 Crypto Giants Unite to Shield DeFi in Critical Market Structure Bill
Defiance becomes defense as industry heavyweights form unprecedented coalition.
The Cavalry Arrives
More than 100 cryptocurrency companies just launched a coordinated offensive to protect decentralized finance from regulatory overreach. This isn't lobbying—it's a full-scale mobilization against provisions that could cripple innovation.
Wall Street's Cold Sweat
Traditional finance institutions watch nervously as crypto's rebels organize like Fortune 500 players. They're drafting amendments, coordinating testimony, and deploying legal firepower—all while TradFi still struggles to explain DeFi to their compliance departments.
The Bottom Line
When crypto stops competing with each other and starts uniting against common threats, regulators suddenly need to listen. Because nothing terrifies bureaucrats more than 100 companies that actually understand the technology they're trying to regulate.
Historic Letter From Crypto Leaders
The letter, signed by 115 key players in the crypto ecosystem, underscores a collective commitment to preserving the rights of those who build the digital financial landscape. It states:
We speak to Congress with one voice: provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation. Without such protections, we cannot support a market structure bill.
The signatories highlight the historical advantages the US has enjoyed in software development, which have led the nation to the forefront of technological innovation over the past five decades.
They argue that to maintain this leadership in the digital financial era, legislation must recognize the crypto market’s blockchain technology as neutral infrastructure.
Furthermore, they assert it should ensure that crypto developers and service providers are not subjected to outdated regulatory frameworks designed for traditional finance.
Calls For Legislative Protections
The letter also points to troubling statistics: the share of open-source software developers in the US has declined from 25% in 2021 to a projected 18% in 2025. This drop is largely attributed to the uncertainties surrounding regulatory frameworks for software development.
As noted in a recent report from the President’s Working Group on Digital Assets, reversing this trend is essential for making America the “crypto capital of the world.”
While the House and Senate have included provisions like the Blockchain Regulatory Certainty Act and the Keep Your Coins Act in their drafts, which aim to distinguish between intermediated finance and decentralized networks, the letter emphasizes that more clarity is needed.
They believe that the proposed legislation must ensure that crypto developers are not misclassified as money transmitters and that they can engage in their activities without facing regulatory penalties.
The call for comprehensive federal protections is framed as a bipartisan issue, with a history of support for open-source software crossing party lines.
Past legislation, such as the CLARITY Act, received overwhelming backing, indicating a strong consensus on the need to protect developers and non-custodial service providers. The current coalition aims to build on this momentum and push for enhancements in the legislative protections for developers.
Featured image from DALL-E, chart from TradingView.com
