Blockchain Regulatory Certainty Act

This bill establishes a crucial safe harbor for blockchain developers and providers of blockchain services who do not maintain control over users' digital assets. By explicitly stating that these entities should not be treated as money transmitters or financial institutions requiring licensing or registration, the legislation provides much-needed regulatory clarity.

This approach is highly beneficial for the crypto industry as it reduces the regulatory burden on innovators and entrepreneurs building decentralized applications and infrastructure. It correctly distinguishes between custodial services, which handle user funds and may warrant regulation, and non-custodial activities like software development or providing access to public blockchains. This light-touch regulation encourages development and adoption without stifling innovation through overly broad or inappropriate application of existing financial regulations, a significant positive step against regulatory overreach.