The letter was authored by Senators Cynthia Lummis and Ron Wyden. In a letter to Attorney General Merrick Garland, congressmen argue that FinCEN is unjustifiably criminalizing the circulation of digital assets and preventing the emergence of responsible financial innovation:
“The Biden Administration is promoting and supporting FinCEN’s alien interpretation of US law to the crypto community, which is incorrect as a matter of law and undermines the entrepreneurial foundations that have made America a global economic leader. Wallet software is no more to blame for illicit finance than the highway is to blame for a bank robber's getaway car. We are deeply committed to ensuring that every American has the ability to self-custody their digital assets and that growing industries have the opportunity to operate legally in our country.”
Senators believe that the new expansive interpretation of laws on crypto regulation and financial crimes, demonstrated by FinCEN in criminal cases against the developers of mixing services Samourai and Tornado Cash, is intended to persecute programmers and innovators. Instead of focusing on the attackers who steal digital assets.
“We are concerned that the DOJ's interpretation will treat software developers as criminals for simply writing and publishing code used by others. This is a dangerous legal precedent that contradicts US law and entails unpredictable consequences,” the senators complain.
Earlier, US Senator Cynthia Lummis addressed Congress, declaring that digital assets are used exclusively in illegal financial activities.
Source: Bits
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