Regulatory Certainty for Cryptocurrency Technology Bill Revived by Tom Emmer

Congressman Tom Emmer, alongside Congressman Ritchie Torres, has reintroduced the Blockchain Regulatory Certainty Act (BRCA), a bipartisan bill that aims to provide legal clarity for blockchain developers, miners, validators, and crypto wallet providers who build non-custodial services.

The bill argues that as long as these service providers do not hold custody of consumer funds, they shouldn't be classified as money transmitters under existing regulations. This legislation is designed to prevent American crypto innovation from being driven overseas by ambiguous regulations. It has garnered the support of industry organizations such as Coin Center, DeFi Education Fund, and Crypto Council for Innovation.

Concurrently, in Texas, the strategic Bitcoin reserve bill (SB 21) has passed its third reading and now awaits the Governor's signature.