PANews
PANews|Mar 26, 2026 03:42
[Texas Judge Rejects Crypto Developer's Request for Software Exemption from Money Transmission Laws] According to Cointelegraph, a court in Texas, USA, has dismissed a lawsuit filed by crypto developer Michael Lewellen. Lewellen sought a declaratory judgment from the court, asserting that his software Pharos (used for donating to charitable crowdfunding campaigns) would not be prosecuted for violating money transmission laws. U.S. Chief District Judge Reed O’Connor dismissed the case on Wednesday, stating that Lewellen failed to demonstrate a credible and imminent threat of prosecution. Lewellen expressed on the X platform: 'Disappointed by the court's decision to dismiss my lawsuit today.' The court's dismissal also referenced a memorandum from the U.S. Department of Justice, which stated that the DOJ would no longer prosecute virtual currency exchanges, mixing services, or offline wallets for the actions of their end users or for inadvertently violating regulations. Lewellen added: 'A non-binding DOJ memorandum cannot replace true legal certainty.'
+3
Mentioned
Share To

Timeline

HotFlash

APP

X

Telegram

Facebook

Reddit

CopyLink

Hot Reads