A powerful coalition of 112 crypto companies, investors, and advocacy groups is demanding that the US Senate protect software developers and non-custodial service providers in its upcoming digital asset market structure bill.

In a letter sent Wednesday to the Senate Banking and Agriculture Committees, the industry called on lawmakers to prevent developers from being wrongly classified as financial intermediaries under outdated rules. The push, led by the DeFi Education Fund, united nearly every major player in US crypto, including Coinbase, Kraken, Ripple, Uniswap Labs, Andreessen Horowitz (a16z), the Blockchain Association, and the Digital Chamber.

“Without strong protections for developers and non-custodial service providers, we cannot support a market structure bill,” the letter warned.

Advocates argue the stakes are high. Data from Electric Capital shows the US share of open-source blockchain developers dropped from 25% in 2021 to just 18% in 2025, a decline many attribute to regulatory uncertainty. The coalition said clear nationwide protections are necessary to keep innovation onshore, avoid conflicting state laws, and build upon bipartisan momentum from the recently passed CLARITY Act.

Senator Cynthia Lummis recently said a comprehensive crypto market structure bill is expected to reach President Donald Trump’s desk before the end of the year. The legislation, which would define how the SEC and CFTC oversee the industry, is slated to move through the Senate Banking Committee by September and the Agriculture Committee by October. Lummis suggested the final bill could be ready by Thanksgiving.

The showdown highlights a critical moment for US crypto. With developer talent increasingly migrating overseas, industry leaders warn that failing to safeguard builders could leave America behind in the race for digital asset dominance.