If a cryptocurrency like bitcoin were to become a commonly accepted medium of exchange—a global decentralized monetary system that no third party can stop or control—would the U.S. government attempt to make it illegal and prosecute the developers who contribute to its code base? Is software protected by the First Amendment? Will the government one day prosecute individuals who design 3D-printed guns and then make their plans downloadable on the internet? Last week brought cause for alarm that a federal crackdown on the decentralized, open-source software movement might be coming.
In the past, the U.S. government has pursued financial services companies like cryptocurrency exchanges, holding them criminally liable for mishandling other people's money or for facilitating international payments without following Know Your Customer and other regulations.
