“If you don’t custody consumer funds, you aren’t a money transmitter. Plain and simple,” Congressman Emmer said. “The longer we delay this commonsense clarification, the greater the risk that this transformative technology is pushed overseas, harming American investors and innovators. This bill provides that clarification, and will help the United States remain a leader in the crypto space.”

"The Blockchain Regulatory Certainty Act is the best way to protect American crypto developers and innovators from undue regulation by prosecution. Recent misapplication of licensing laws has substantially chilled the development of privacy and freedom enhancing tech in the US. Avoiding surprise prosecutions, creating legal clarity, and encouraging free speech and software development are not partisan issues; they are core American values, and the BRCA codifies them,” said Peter Van Valkenburgh, Executive Director of Coin Center.