Crazy but one way to circumvent this madness is by not incorporating in the US of A or by not attaching a name to the product. Probably one reason why Satoshi decided to disappear. He removed himself from the equation.
Tornado Cash? Needed a banking license. Samourai Wallet? Needed a banking license. WhatsApp, Apple, X, probably all need licenses too.
Sounds retarded? Correct. That's why the SEC has proposed a rule to formalize licensing requirements for communication protocols.
In a speech at the annual U.S. Treasury Market Conference, Gensler announced to rule on proposed amendments to the Exchange Act by November, which expand the definition of the term "exchange" to mean "systems that bring together buyers and sellers of securities [...] (i.e. "communication protocols")."
Critics argue the rule may be weaponized to criminally indict software developers given the already hostile environment for crypto- and privacy devs.
If this rule passes, we are fucked beyond comprehension.
Full story:
https://www.therage.co/gensler-to-rule-on-licensing-requirements-for-communication-protocols-2/
Discussion
I like the idea of a future where all the most important technologies are unowned protocols that can't be control and on top of which people can build capitalistic enterprises.
It's not crazy at all. Game theory. It is now clear that the U.S. constitution isn't going to prevent this. Even if it does, do you really want to sit around and wait until these issues are eventually decided by the Supreme Court? Time to move on to more welcoming jurisdictions.
"me to move on to more welcoming jurisdictions"
this. The US is not the world financials police same as they aren't the world peace corps. People think to "national" when it comes to Bitcoin. The US represents 5% of the world population of which only a few percent is exposed to Bitcoin. In other words 95% of the world doesn't care about the SEC or Trump or any other shenanigans the US comes up with.
At least one of the Samourai dev was not in US (in portugal) and still got arrested. It's open sourvêce software you cannot really prevent people from just some countries to us it, so they arrest the dev even outside their juridiction. That's the main issue IMO.
How to prevent that?
They can only arrest people if they can tie a real life name to the project. Look at Bitcoin.