According to a report by Cointelegraph, a Texas court dismissed a lawsuit filed by crypto developer Michael Lewellen. Lewellen sought a declaratory judgment that his software, Pharos (used for donations to charitable crowdfunding campaigns), would not be prosecuted for violating money transmission laws. U.S. Chief District Judge Reed O'Connor dismissed the case on Wednesday, finding that Lewellen failed to demonstrate a credible and imminent threat of prosecution. Lewellen stated on the X platform, "I am disappointed that the court dismissed my lawsuit today." The court's dismissal opinion also cited a U.S. Department of Justice memo stating that the Department will no longer prosecute virtual currency exchanges, mixing services, or offline wallets for violations by their end-users' actions or unintentional breaches of regulations. Lewellen added, "A non-binding Department of Justice memo cannot replace genuine legal certainty."
A Texas judge rejected a crypto developer's request for an exemption from money transfer laws for its software.
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