The DOJ’s statement is both a step forward and half a step back. It provides clear guidance that truly decentralized and non-custodial software is not, by itself, considered an unlicensed money transmission business. This is crucial for developers building open-source tools: if you never touch user funds, you are not a “money transmitter.” However, the phrasing “under certain circumstances” and “if there is criminal intent, other charges may be appropriate” leaves the door open to ambiguity. It means the DOJ reserves the right to target developers if it believes they have colluded with or facilitated criminal activity.

Developers may therefore remain exposed not because of the nature of their software, but because the definition of “criminal intent” is vague and ultimately left to prosecutorial discretion.