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We’ve got one shot at fixing the law or Americans simply won't have access to the best wallets available and US devs will be locked out of providing the best UX! It’s time for Bitcoiners to fight for our right to access our wallets, before it’s too late. As most of you know, under Biden, the DOJ decided that ancillary services to noncustodial wallets are MSBs, charging both Samurai Wallet and Tornado Cash with operating an unregistered Money Services Business (nevermind that no regulator would have accepted theirr registration!). The definition the DOJ used applies not just to privacy services, but also to lightning nodes, rollup sequencers, Ark, Spark, and more. Basically every technology anyone has come up with for providing better scalability, privacy, or user experience for cryptocurrencies requires some kind of ancillary service, the exact things that would be made illegal! While the Trump DOJ has (partially) walked that back, the next admin will be right back at it - the only solution is to get the law changed so that this isn't a risk in three years. Luckily, the Blockchain Regulatory Certainty Act was recently re-introduced by Reps Emmer and Torres to fix this issue, but they need our help! Please, please, pick up the phone and make a 5 minute call to congress, make clear that this is a simple straightforward amendment of the law to bring it in line with existing FinCEN rules. saveourwallets.org will give you the phone numbers to call for your zip code. View quoted note →

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A non-custodial wallet is a key measure against hacking. On the blockchain, hackers often wait for the moment when two keys appear simultaneously. In just that brief instant, they can steal cryptocurrencies. Before launching an attack, hackers monitor transaction data on the blockchain to identify targets—usually wallets with large balances. These are often found on centralized exchanges. To reduce this risk, we need non-custodial wallets. By decentralizing assets from exchanges to individual users, we can minimize the risk of large-scale hacks. Imagine if a bank were hacked... Crypto wallets are like being able to withdraw your own cash directly from an ATM. If they outlaw this technology, they're essentially giving hackers the green light to steal large amounts of money.
Matt Corallo's avatar Matt Corallo
We’ve got one shot at fixing the law or Americans simply won't have access to the best wallets available and US devs will be locked out of providing the best UX! It’s time for Bitcoiners to fight for our right to access our wallets, before it’s too late. As most of you know, under Biden, the DOJ decided that ancillary services to noncustodial wallets are MSBs, charging both Samurai Wallet and Tornado Cash with operating an unregistered Money Services Business (nevermind that no regulator would have accepted theirr registration!). The definition the DOJ used applies not just to privacy services, but also to lightning nodes, rollup sequencers, Ark, Spark, and more. Basically every technology anyone has come up with for providing better scalability, privacy, or user experience for cryptocurrencies requires some kind of ancillary service, the exact things that would be made illegal! While the Trump DOJ has (partially) walked that back, the next admin will be right back at it - the only solution is to get the law changed so that this isn't a risk in three years. Luckily, the Blockchain Regulatory Certainty Act was recently re-introduced by Reps Emmer and Torres to fix this issue, but they need our help! Please, please, pick up the phone and make a 5 minute call to congress, make clear that this is a simple straightforward amendment of the law to bring it in line with existing FinCEN rules. saveourwallets.org will give you the phone numbers to call for your zip code. View quoted note →
View quoted note →