Senators Introduce Bill to Exempt Non-Custodial Blockchain Developers
- Senators Cynthia Lummis and Ron Wyden introduced the Blockchain Regulatory Certainty Act.
- The bill aims to exempt non-custodial blockchain developers from federal money transmitter laws.
- Developers who do not control user funds would not be classified as money transmitters.
- The legislation seeks to protect innovation and align federal standards with state laws.
- Recent legal cases, such as Tornado Cash, highlight the need for regulatory clarity.
The Blockchain Regulatory Certainty Act, introduced by Senators Lummis and Wyden, seeks to exempt non-custodial blockchain developers from being classified as money transmitters. This move aims to protect innovation and provide regulatory clarity in the digital finance sector.
Source (3.2)https://cryptobriefing.com/senators-lummis-wyden-bill-blockchain-developers-exempt-money-transmitter-laws/?rand=59535
