New Blockchain Bill Aims to Clarify Developer Regulations
- Reps. Tom Emmer and Ritchie Torres introduced the Blockchain Regulatory Certainty Act (BRCA) in Congress.
- The bill specifies that developers who do not handle user funds are not classified as money transmitters.
- The BRCA aims to make the U.S. a leading hub for blockchain developers by providing legal clarity.
- Industry groups, including the Blockchain Association, support the bill.
- The GENIUS Act, a stablecoin regulation bill, recently passed an initial Cloture vote in Congress.
The introduction of the BRCA by Reps. Emmer and Torres seeks to exempt non-custodial developers from being labeled as money transmitters, potentially positioning the U.S. as a key player in blockchain development.
Source (2.6)https://coingape.com/rep-tom-emmer-unveils-new-blockchain-bill-to-protect-developers/?rand=24432
