In a recent report, Coin Center asserts that writing and disseminating crypto software code should be recognized as a form of protected speech under the First Amendment. The organization, led by Executive Director Peter Van Valkenburgh and Director of Research Lizandro Pieper, emphasizes that developers are akin to authors and should not face liability for the use of their creations. This argument comes amid rising concerns over the legal risks faced by crypto developers following several convictions linked to software misuse.
Coin Center's paper aims to clarify the legal distinctions between software publication and developers' professional actions, suggesting that regulation should only apply when developers directly manage user assets or execute transactions. The duo cautions that confusion among lower courts regarding the nature of software as either conduct or speech may lead to a misinterpretation of First Amendment protections.
They reference the Supreme Court case from 1985, Lowe v. SEC, to bolster their stance, arguing that software, which can create tangible impacts, remains a form of speech. The report highlights the critical need for legal frameworks that support developers engaged solely in publishing software, without imposing undue restrictions.