One of the objectives of central lobbying of the crypto industry – to protect software developers against legally responsible officials when criminals abuse their technology – can be in danger against the Democrats led by the American senator Mark Warner, according to people familiar with legislative negotiations.
The Senate should return to work in Washington next week, with the completion of a bill on the structure of the cryptographic market among its main articles. In the bipartite discussions on this bill, Warner would have organized a reserve of the approach in the American version of the House of Representatives of the Bill known as Digital Asset Market Clarity Act, which gave the legal coverage of the developers, according to three people knowing negotiation.
Warner, a Democrat in Virginia who is vice-president of the Senate Information Committee, keeps national security issues closely, and he would have retreated on creeping hacks and money laundering concerns that he is associated with decentralized finance (Challenge) End of the cryptography sector. In the past, he has raised objections on information that cryptocurrency may have been used to move assets to terrorist groups, and he pushed a bill in 2023 which turned to saddle platforms with the same fight against money laundering (AML) Requirements that traditional financial companies must respond – a potentially existential threat for the operation of decentralized projects without basic management.
At the time, Warner said that such an effort “would help maintain the solid AML and the application of the sanctions we need to protect our national security, while allowing participants who conclude according to the rules of continuing to take advantage of the potential of distributed major book technologies,” by noting in addition to its opinions according to which “criminals and intangible states continue to use crypto to wash money, to explode Illustrated activity “.
He then continued a provision of credits last year which would have automated a process of sanction “facilitators of transaction of foreign digital assets” – including the exchanges of crypto – linked to users who support the terrorism groups. He therefore has training by trying to hold the initiates of digital assets responsible for the illicit use of their products.
A senator spokesman did not immediately respond to a request for comments on his post in the last negotiations, but the Republican senators sought to accelerate the bill on the structure of the Senate market, trying to follow the Chamber in a large bipartite approval.
Warner is one of the Democrats of the Senate Banking Committee – one of the two panels who must present themselves to the Cryptographic Legislation Act before being able to move to a ground vote.
Unlike the more aggressive position of Democratic Senator Elizabeth Warren, the industry generally considers Warner as a member with a balanced opinion on crypto issues, having supported the sector in previous votes, as in the recent adoption of the bill to regulate stable stable issuers – always as the greatest yield of the industry in Washington. Digital assets The political organization of Stand with Crypto gives it a “note” as a legislator who “strongly supports the crypto”.
When the guidance and the establishment of national innovation for American stablecoins (GENIUS) The law still crossed the Senate before its adoption by a broad margin in June, some Democrats had interrupted the process on this bill to oppose the security and the unlawful final of the industry (In addition to the potential conflicts posed by the own commercial interests of President Donald Trump.) The disagreements were launched on the road in favor of an easy adoption of this previous bill, knowing that this market structure legislation would be a better place to hate these concerns.
This debate now arrives at the bill which is the Lynchpin of Washington plans in the digital asset sector. This legislation aimed at establishing tailor-made regulations for American cryptographic transactions is considered to be necessary for the industry to take itself and to bring the remaining institutional actors and hesitant retail investors in the field of digital tokens.
Behind the closed doors, crypto lobbyists wonder if the history of Warner in venture capital work for technological companies will help them to plead to protect innovators from software writing against legal responsibility. In light of cases such as the recent criminal conviction of the Tornado Cash Roman developer, the urgency of establishing a shield is to amplify.
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