A U.S. lawmaker has introduced the Blockchain Regulatory Certainty Act that ensures non-custodial crypto services are not money transmitters.
Highlights
- US Lawmaker Introduces Bill to Affirm Blockchain Developers and Non-Custodial Services Are Not Money Transmitters.
- Congressman Tom Emmer (R-MN), the majority whip of the U.S.
- House of Representatives, announced on Thursday that he has introduced the bill.
- “The longer we delay providing this commonsense clarification, the greater risk that this transformative technology is driven overseas, depriving domestic users and investors,” the lawmaker warned.
- The bipartisan bill is co-led by Representative Darren Soto (D-FL), Emmer first introduced a similar bill in 2018.
- The bill would reinforce in law the established understanding that non-custody services should not be regulated in the same way as something like running a custodial cryptocurrency exchange.
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