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Crypto Developer Michael Lewellen Sues DOJ For Regulatory Overreach

Lewellen’s lawsuit claims the DOJ criminalizes non-custodial crypto tools, violating the First and Fifth Amendments and federal law guidance.

Blockchain developer Michael Lewellen has filed a lawsuit against the U.S. Department of Justice, accusing the agency of criminalizing crypto development through an overly broad interpretation of federal money-transmission laws.

Filed Thursday, the lawsuit seeks to prevent prosecution of his decentralized crowdfunding platform, Pharos, which he argues operates outside the scope of these regulations.

Pharos, built on Ethereum, uses “assurance contracts,” which employ smart contracts to hold funds and automatically refund donors if funding goals are unmet.

Crypto Developer Michael Lewellen Sues DOJ For Regulatory Overreach

Lewellen’s lawsuit claims the DOJ criminalizes non-custodial crypto tools, violating the First and Fifth Amendments and federal law guidance.

Blockchain developer Michael Lewellen has filed a lawsuit against the U.S. Department of Justice, accusing the agency of criminalizing crypto development through an overly broad interpretation of federal money-transmission laws.

Filed Thursday, the lawsuit seeks to prevent prosecution of his decentralized crowdfunding platform, Pharos, which he argues operates outside the scope of these regulations.

Pharos, built on Ethereum, uses “assurance contracts,” which employ smart contracts to hold funds and automatically refund donors if funding goals are unmet.
https://decrypt.co/301494/crypto-developer-michael-lewellen-sues-doj-for-regulatory-overreach