Trump’s Crypto Platform Lacks Developer Protection Amidst Innovation Push

Points

• Donald Trump’s new crypto platform includes pro-innovation policies but lacks developer protections.
• The platform supports Bitcoin mining, self-custody of digital assets, and free transactions.
• Developers of decentralized projects face government interference and prosecution risks.
• Cases like Roman Storm and Roman Semenov highlight the need for developer protections.

The Republican National Convention has approved former President Donald Trump’s new platform for the Republican Party, which includes several pro-innovation policies related to cryptocurrency. While the platform’s commitment to supporting Bitcoin mining, self-custody of digital assets, and free transactions is notable, it falls short in protecting developers of decentralized projects from government interference and prosecution.

Trump’s platform emphasizes defending Americans’ rights to mine Bitcoin, self-custody digital assets, and transact freely. However, it does not address the critical issue of protecting developers who create privacy-preserving technologies and decentralized protocols. This omission leaves developers vulnerable to legal actions, as seen in recent cases involving the Biden administration.

The Biden administration has been notably hostile towards crypto companies, with actions against Ripple and Coinbase being prime examples. However, the treatment of developers behind privacy-preserving technologies has been even more severe. Developers like Roman Storm and Roman Semenov, who worked on the Tornado Cash protocol, have faced prosecution for enabling private transactions on the Ethereum network. The US Treasury Department sanctioned Tornado Cash after it was used by bad actors, but the subsequent indictments of Storm and Semenov for money laundering and sanctions violations have raised significant concerns.

Prosecuting developers for creating tools that can be misused sets a dangerous precedent. It discourages innovation in privacy-preserving technologies, which are essential for protecting personal data and ensuring financial autonomy. Privacy-preserving tools like zero-knowledge proofs and homomorphic encryption offer robust methods to secure data without compromising functionality.

Historically, the US government has supported the development of privacy-preserving technologies like Tor and Signal. However, targeting developers of similar technologies in the crypto space sends a conflicting message. The government’s actions suggest that innovation in digital privacy and security is a liability rather than an asset.

With Ohio Senator J.D. Vance joining Trump’s ticket, the campaign positions itself as pro-innovation and pro-crypto. Vance, who owns Bitcoin and has worked on crypto legislation, aligns with Trump’s vision for a more favorable regulatory environment. However, for the platform to truly champion innovation, it must include protections for developers who build the tools enabling these advancements.

解説

• The inclusion of pro-innovation crypto policies in Trump’s platform is a positive step for the industry, but the lack of developer protections is a significant oversight. Ensuring that developers can innovate without fear of legal repercussions is crucial for the growth of the crypto ecosystem.
• The cases of Roman Storm and Roman Semenov highlight the risks developers face when their tools are misused by others. Prosecuting developers for such misuse undermines innovation and discourages the creation of privacy-preserving technologies.
• For a truly pro-innovation platform, protections for developers must be prioritized. This includes safeguarding their rights to create and distribute privacy-preserving tools, which are essential for digital privacy and security.