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>>Senators introduce legislation to protect Bitcoin developers from money-transmitter regulations

Senators introduce legislation to protect Bitcoin developers from money-transmitter regulations

crypthub

about 3 hours ago

Bill Overview

Senators Cynthia Lummis and Ron Wyden introduced the Blockchain Regulatory Certainty Act of 2026. The bill creates an exemption for developers and infrastructure providers who do not control user funds. It aims to reduce legal uncertainty and encourage innovation in blockchain technology. Supporters say it updates outdated interpretations of money‑transmission statutes.

Regulatory Impact

Current federal and many state laws treat any “value transmission” as requiring money‑transmitter licensing and compliance. The proposal clarifies that writing code, running nodes, debugging, or publishing upgrades does not constitute money transmission. It would relieve licensing and reporting burdens on non‑custodial developers and service firms. Industry groups argue the safe harbor would benefit both enterprise and open‑source projects.

Legislative Path

The measure now awaits referral to a Senate committee for hearings and markup before a floor vote. If passed, the House must approve the bill, possibly within broader tech or financial legislation. Advocates expect the clarification to shape regulator approaches to decentralized technologies for years.