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BlockNews
Home CRYPTO

US Senator Cynthia Lummis is Defending the Rights of Bitcoin Holders in America

Michael Juanico by Michael Juanico
May 1, 2024
in CRYPTO, POLITICS
Reading Time: 3 mins read
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  • Senator Cynthia Lummis criticized the Department of Justice’s stance on non-custodial crypto wallets, arguing it contradicts existing Treasury guidance and violates the rule of law.
  • Lummis accused the Biden Administration of criminalizing core tenets of the Bitcoin network and decentralized finance.
  • The DOJ’s interpretation of money transmission laws to encompass wallet developers with no direct control over user assets has sparked backlash from the crypto community.

United States Senator Cynthia Lummis (R-WY) has stated that she is “deeply troubled” by the Department of Justice‘s (DOJ) stance on non-custodial software. Lummis expressed concern about the DOJ’s “hyper-aggressive argument” that non-custodial software can constitute a money transmission service. She added that the DOJ’s stance “contradicts existing Treasury guidance” and “violates the rule of law.”

JUST IN: 🇺🇸 Sen @SenLummis states she is fighting for the rights of all #bitcoin holders pic.twitter.com/8PLQC1lYbJ

— BlockNews.com (@blocknewsdotcom) May 1, 2024

Lummis Accuses DOJ of Overreach

In a tweet, Lummis said the DOJ’s arguments against self-custody software threaten the “fundamental property rights that are core to being an American.” Lummis said she will fight for people’s rights to “hold your own keys and run your own node.” She further accused the Biden Administration of “criminalizing core tenants of the Bitcoin network and decentralized finance.”

Lummis’ comments follow two recent cases where DOJ prosecutors have pushed for criminal charges against software developers for unlicensed money transmission – an unsealed indictment against Bitcoin mixer Samourai Wallet and a reply brief responding to the defense’s motion to dismiss in the case against Tornado Cash developer Roman Storm.

Backlash from Crypto Community

The DOJ’s interpretation of money transmission laws to encompass wallet developers who have no direct control over user assets has sparked a backlash among the crypto community.

Crypto advocacy group Coin Center has characterized the DOJ’s stance as a “massive overreach,” arguing that it contradicts existing FinCEN guidance and rulings. Coin Center filed an amicus brief in defense of Roman Storm, arguing that the publication of Tornado Cash’s code is constitutionally protected under the First Amendment.

Conclusion

The escalating legal battle between regulators like the DOJ and SEC and crypto developers is likely to continue as the technology’s mainstream adoption increases. Senator Lummis and other policymakers sympathetic to crypto will play a key role in how regulations take shape.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Biden administrationBitcoinCynthia LummisDepartment of JusticeSamourai Wallet
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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