Why Congress Must Safeguard Developers for Crypto Industry Growth

Hey there, crypto enthusiasts! Today, I'm thrilled to delve into a critical topic that's making waves in the crypto sphere. Recently, Bitcoin and crypto advocates banded together to caution Congress about the pivotal need to protect developers. Let's uncover why this plea is crucial for the industry's flourishing future.

The Call to Action: Protecting the Backbone of Innovation

Support for Developer Safeguards

The DeFi Education Fund, backed by 110+ prominent figures in the crypto realm, has proactively reached out to the U.S. Senate Banking Committee. Their message is crystal clear: Congress must establish solid nationwide safeguards for software developers and noncustodial service providers within market structure laws.

Building a Regulatory Bridge

The letter emphasizes the disparity between the conventional financial realm's regulatory framework and the unique landscape of open-source development. It highlights the necessity of shielding developers from impractical regulatory constraints that could stifle innovation and progress.

Fueling Innovation for a Crypto-Forward Future

Preserving America's Competitive Edge

To uphold President Trump's vision of positioning the U.S. as the global crypto hub, the nation must embrace and nurture cutting-edge software development. This includes fostering an environment that welcomes innovation, mirroring the internet's early days.

Declining Developer Presence

Disturbingly, the U.S. has witnessed a drop in the percentage of open-source developers operating within its borders. This decline, from 25% in 2021 to 18% in 2025, is attributed to the ambiguity surrounding software development regulations.

Urging Bipartisan Support for Developer Protection

Paving the Way for Progress

There's a resounding call for bipartisan unity to safeguard software developers. The overwhelming support for the CLARITY Act in the House, with 294 members voting in favor, underscores the bipartisan nature of this issue. Now, the spotlight turns to the Senate to enhance developer protections in the upcoming bill draft.

As we navigate the intricate web of regulations and innovations in the crypto space, remember that nurturing developers is akin to tending to the roots of a thriving ecosystem. Let's join hands in advocating for a supportive environment that paves the way for groundbreaking advancements. Together, we can shape a future where innovation knows no bounds!

Frequently Asked Questions

Are gold IRAs a good investment?

An investment in gold can be made by buying shares of companies that mine it. This is a good way to make money when you invest in gold and other precious metals like silver.

The downside to owning shares is that you can't directly control them.

Holding on to your stock for too many years can lead you to losing money. Stocks that fall are less than their underlying asset (like silver) and can end up losing more money. You could lose your money, rather than make it.

Second, waiting for the market to recover before selling your gold holdings could result in you missing out on potential profits. Be patient and wait for the market's recovery before you make any profits from your gold holdings.

If you prefer to keep your investments apart from your finances, physical gold is still an option. A gold IRA can help you diversify your portfolio, and protect against inflation.

You can learn more about gold investing by visiting our website.

Should You Open a Precious Metal IRA?

Answers will depend on whether you have an investment goal or how high you are willing and able to tolerate risk.

If you plan to use the money for retirement, you should open an account now.

It is likely that precious metals will appreciate over the long-term. They also offer diversification benefits.

The prices of silver and gold tend to be linked. This makes them an excellent choice for investors in both assets.

Do not invest in precious metals IRAs if your goal is to save money or take on any risk.

Can I invest in gold?

The answer is yes You can add gold to your retirement plan. Because it doesn’t lose value over the years, gold makes a good investment. It is also resistant to inflation. And you don't have to pay taxes on it either.

Before you decide to invest in gold, it is important to understand that it isn't like other investments. You cannot buy shares of companies that are gold, like stocks and bonds. They can't be sold.

Instead, convert your gold to money. This means that you must get rid of your gold. It's not enough to hold on to it.

This makes gold an attractive investment. As with other investments you can always make a profit and sell them later. That's not true with gold.

Even worse, you can't use the gold as collateral for loans. To cover a mortgage, you may need to give up some gold.

What does that mean? You can't just keep your gold forever. You will have to sell it at some point.

You don't have to worry about this now. All you have to do is open an IRA account. After that, you can start investing in gold.

Is it possible to hold precious metals in an IRA

The answer depends on whether or not the IRA owner is looking to diversify his holdings in gold and silver, or to keep them for safekeeping.

Two options are available for him if diversification is something he desires. He could either buy physical bars of silver and gold from a dealer, or he could sell the items to the dealer at year's end. However, suppose he isn't interested in selling back his precious metal investments. In such a case, he should not sell his precious metal investments. They would be perfect for storing in an IRA account.

Statistics

Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)
If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)

External Links

How To

How to decide if a Gold IRA is right for you

Individual Retirement Accounts (IRA) are the most popular type. Individual Retirement Accounts (IRAs) are available through financial planners, banks, mutual funds and employers. Individuals can contribute as much as $5,000 per year without any tax consequences. You can contribute this amount to any IRA regardless of your age. However, there are limits on how much money you can put into certain IRAs. A Roth IRA is only available to those who are at least 59 1/2. If you're under 50, you must wait until you reach age 70 1/2 before making contributions. In addition, some people who work for their employer may be eligible for matching contributions from their employer.

There are two types: Roth and Traditional IRAs. Traditional IRAs can be used to invest in stocks or bonds, as well other investments. Roth IRAs are only available for after-tax dollars. Roth IRA contributions can be made without tax, but they will still be subject to taxes if you withdraw from it. Some people combine both of these accounts. Each type of IRA comes with its own pros and cons. Before you decide which type of IRA is right for you, what are the pros and cons? Here are three things to keep in mind:

Traditional IRA Pros:

There are many options for contributing to your company.
Employer match possible
It is possible to save more than $5.000 per person
Tax-deferred growth until withdrawal
May have restrictions based on income level
Maximum contribution limit for married couples is $5500 annually ($6,500 jointly).
Minimum investment: $1,000
After you turn 70 1/2, you can begin receiving mandatory distributions
To open an IRA, you must be at least 5 years old
Transfer assets between IRAs cannot be done

Roth IRA pros

Contributions do not attract taxes
Earnings grow without paying taxes
No minimum distributions
Only stocks, bonds, mutual funds are available as investment options.
There is no maximum allowed contribution
Transfer assets between IRAs is possible without restrictions
An IRA can only be opened by those 55 and older

If you are thinking about opening an IRA, it is important to be aware that not all companies offer exactly the same IRAs. Some companies provide the choice of a Roth IRA as well as a traditional IRA. Others offer the possibility to combine them. Noting that different types IRAs have different requirements, it's worth noting. Roth IRAs have no minimum investment requirements, while traditional IRAs require a minimum $1,000 investment.

The Bottom Line

When you are choosing an IRA, it is crucial to consider whether you will pay taxes now or in the future. A traditional IRA is a good choice if you expect to retire within ten. A Roth IRA may be a better choice for you. Whatever your situation, it's a good idea that you consult a professional about retirement planning. An expert can advise you on the best options and how to navigate the market.

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By: Frank Corva
Title: Why Congress Must Safeguard Developers for Crypto Industry Growth
Sourced From: bitcoinmagazine.com/politics/bitcoin-and-crypto-advocates-warn-congress-protect-developers-or-lose-industry-support
Published Date: Wed, 27 Aug 2025 09:08:22 +0000