BREAKING: My nonpartisan bill – the Blockchain Regulatory Certainty Act – just passed out of the Financial Services GOP. This is a huge win for the United States as we are one step closer to putting Americans in the driver’s seat in crafting the future peer-to-peer digital economy.

The BRCA codifies in law KEY Treasury guidance that was established under the Obama Administration, re-established under the Trump Administration, and is still followed today under the Biden Administration.

This agreed-upon guidance clarifies that non-custodial blockchain developers and service providers (miners, validators, wallet providers) that never custody consumer funds do not have to register as money transmitters.

After all, money transmission licensing laws are designed to protect consumers from the risk of loss of assets… a risk that occurs when transmitters and other intermediaries take control of consumer funds.

Guidance, however, is not as concrete as statute. Statute gives certainty. Guidance can change at the political whim of a new administration.

The BRCA provides the digital asset ecosystem regulatory certainty to keep innovating in the United States so the future digital economy reflects American values.

@FinancialCmte Congressmembers @BobbyScott & @RobWittman , and Senators @timkaine & @MarkWarner please support this bill as it correctly defines my Virginia, USA-based business. Our team operates #Cardano non-custodial validators @DIGI_StakePool This is great for Virginia & the USA 🇺🇸

@FinancialCmte Well done

@FinancialCmte Hello Congressman Emmer! Would you like to come and discuss this bill with us on @leviathan_news ? Our audience will definitely appreciate it (and so are we of course!)

@FinancialCmte Thank you and congratulations 👏👏👏

@FinancialCmte Keep doing what you’re doing Mr. Emmer 🫡