Coin Center, a leading US crypto-policy group, is urging the Senate Banking Committee to advance the Blockchain Regulatory Certainty Act (BRCA). The bill, initially introduced by Rep. Tom Emmer in 2018, aims to protect software developers and infrastructure providers who do not handle user funds from being classified as money transmitters under federal law. Senators Cynthia Lummis and Ron Wyden have refined the draft to align with existing internet-era protections.
The advocacy comes amid legal actions against developers, highlighting the need for a clear regulatory framework. Coin Center argues that without such clarity, developers face prosecutorial risks that deter innovation and push talent offshore. The BRCA seeks to harmonize crypto development with mainstream internet policy norms, ensuring the US remains a hub for blockchain innovation. The Senate Banking Committee is reviewing the draft, but it has not yet been advanced to a vote.
Coin Center Advocates for Crypto Developer Protection Bill in Senate
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
