Coin Center Advocates for First Amendment Protection of Crypto Software Code

Coin Center has released a report asserting that cryptocurrency software code should be considered 'functional speech' and protected under the First Amendment of the U.S. Constitution. According to Odaily, the organization argues that writing and publishing code is akin to authoring a book or sharing a recipe, positioning developers as 'expressers and inventors' rather than custodians or intermediaries. The report highlights that the mere act of publishing and maintaining software should be strictly safeguarded. However, when developers directly control user assets, execute transactions, or make decisions on behalf of users, they may fall within a regulatory scope. This statement comes amid increasing regulatory disputes. Coin Center emphasizes that developers should not be treated as financial intermediaries for the sake of enforcement convenience. The organization calls for the continuation of existing free speech principles in the context of new technologies, rather than expanding the boundaries of criminal liability.