Coin Center: Code should be protected by the First Amendment to the U.S. Constitution, and developers should not be held responsible for the results of its use.

Coin Center released a report stating that cryptographic software code constitutes "functional speech" and should be protected by the First Amendment to the U.S. Constitution. The organization argues that writing and releasing code is similar to writing a book or releasing a recipe, with developers acting as "expressors and inventors," not asset custodians or intermediaries. The report points out that simply releasing and maintaining software should be strictly protected, but when developers directly control user assets, execute transactions on behalf of users, or make decisions on their behalf, they may fall under regulatory oversight. This statement comes amid escalating regulatory controversy. Coin Center emphasizes that developers should not be treated as financial intermediaries due to ease of law enforcement, and calls for the continuation of existing principles of free speech in the context of new technologies, rather than expanding the boundaries of criminal liability. (Cointelegraph)