• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to primary sidebar

DigiBanker

Bringing you cutting-edge new technologies and disruptive financial innovations.

  • Home
  • Pricing
  • Features
    • Overview Of Features
    • Search
    • Favorites
  • Share!
  • Log In
  • Home
  • Pricing
  • Features
    • Overview Of Features
    • Search
    • Favorites
  • Share!
  • Log In

Congressman reintroduces bill on blockchain regulation that exempts digital asset developers and service providers who do not custody consumer funds from compliance applicable to money transmitters

May 28, 2025 //  by Finnovate

Congressman Tom Emmer has reintroduced the Blockchain Regulatory Certainty Act (BRCA), which clarifies that digital asset developers and service providers who do not custody consumer funds are not money transmitters. This legislation provides legal clarity that will unlock blockchain development in the United States and is co-led by Congressman Ritchie Torres (NY-15). The bill aims to protect American crypto developers and innovators from undue regulation by prosecution, ensuring that they are not unfairly treated as financial intermediaries. The BRCA provides clear rules for developers who never take custody of consumer funds, preventing them from being unreasonably defined as operators of an “unlicensed money services business” under the Bank Secrecy Act. The bill also ensures that non-custodial blockchain participants, including developers, node operators, miners, validators, and wallet providers, are not subject to unnecessary and technologically infeasible compliance burdens that would significantly impede American innovation. The development of digital assets in the United States is critical to national and economic security, and the BRCA will help establish the necessary confidence required to keep non-custodial blockchain developers or service providers from seeking more straightforward regulatory environments overseas.

Read Article

Category: Crypto & Blockchain, Innovation Topics

Previous Post: « Success of Pix and UPI is paving way for a three-stage framework for state-led fast payment systems that involves weighting pre-requisites, implementation and scaling and establishing engagement mechanisms and regulatory adjustments

Copyright © 2025 Finnovate Research · All Rights Reserved · Privacy Policy
Finnovate Research · Knyvett House · Watermans Business Park · The Causeway Staines · TW18 3BA · United Kingdom · About · Contact Us · Tel: +44-20-3070-0188

We use cookies to provide the best website experience for you. If you continue to use this site we will assume that you are happy with it.OkayPrivacy policy