Overview
- Senators Cynthia Lummis and Ron Wyden introduced the Blockchain Regulatory Certainty Act in the Senate on Monday as a bipartisan proposal.
- The bill would exclude developers and infrastructure providers without unilateral control over user assets from being classified as money transmitters under federal law.
- Protected activities include writing and publishing software, maintaining blockchain networks, offering self-custody tools, and providing technical infrastructure.
- The proposal bars states from imposing money-transmitter requirements on those protected activities while permitting state enforcement consistent with federal standards.
- Backers present the bill as a response to DOJ actions involving Tornado Cash and Samourai Wallet and as an effort to keep crypto development in the U.S., with the measure now headed into the standard committee process.