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US lawmakers are advancing the Promoting Innovation in Blockchain Development Act to shield blockchain developers from prosecution for writing code. The bill aims to counter recent regulatory actions by the SEC that have criminalized certain crypto activities. This move is seen as a boost for the crypto industry, which has faced heightened legal risks under the Biden administration. The legislation could encourage innovation in blockchain technology and attract investment to the US market. For crypto investors, this signals a potential regulatory shift that may stabilize the sector amid ongoing volatility.
