PANews April 21 news, according to Cointelegraph, Coin Center released a report stating that software code belongs to "functional" speech and should be protected by the First Amendment of the U.S. Constitution. The authors of the report, Coin Center Executive Director Peter Van Valkenburgh and Research Director Lizandro Pieper, believe that writing and publishing cryptocurrency software code is no different from writing a book or publishing a recipe. The First Amendment provides strict constitutional protection to developers who only publish and maintain software. It is only when developers control user assets, execute trades for users, or make decisions on behalf of users that they enter the realm of regulated activities. The report cites the 1985 Lowe v. SEC case, where the Supreme Court ruled that publishers who do not hold assets for clients or take action on behalf of clients are protected by the freedom of speech and do not engage in regulated professions.

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