What does Preamble of Blockchain Regulatory Certainty Act do?

This bill aims to establish a safe harbor from licensing and registration requirements. The safe harbor applies to certain non-controlling blockchain developers. It also applies to providers of blockchain services.

What does SHORT TITLE. of Blockchain Regulatory Certainty Act do?

This bill is formally titled the Blockchain Regulatory Certainty Act.

What does SAFE HARBOR FOR NON-CONTROLLING BLOCKCHAIN DEVELOPERS AND of Blockchain Regulatory Certainty Act do?

This section establishes a safe harbor for blockchain developers and providers, preventing them from being classified as money transmitters or financial institutions unless they have control over user-owned digital assets. The safe harbor applies if the developer or provider does not have control over digital assets in the regular course of business. This section clarifies that intellectual property laws are not affected. States can enforce their own laws as long as they are consistent with this section; inconsistent state laws cannot be used to bring legal action or impose liability. The term 'blockchain developer' is defined as someone who creates, maintains, or disseminates software for blockchain networks or services. A 'blockchain network' is defined as a system of computers reaching consensus on a program's state, allowing user participation without licensing or permission. A 'blockchain service' is defined as a system providing access to a blockchain network, including enabling users to send, receive, exchange, or store digital assets. “Control” is defined as the unilateral and independent legal right to obtain data to initiate transactions involving digital assets, without third-party approval.

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Blockchain Regulatory Certainty Act

Last updated: 5/21/2025 · Introduced: 5/21/2025

Author: Tom Emmer (R-MN)

TL;DR (AI)

This bill creates a safe harbor for blockchain developers and providers, preventing them from being classified as money transmitters or financial institutions if they do not control user-owned digital assets.
The legislation defines key terms like 'blockchain developer,' 'blockchain network,' and 'blockchain service' to clarify the scope of the safe harbor.
States can enforce their own blockchain-related laws, provided they are consistent with the federal provisions established by this Act.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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