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Crypto Coalition Urges Congress to Include Blockchain Regulatory Clarity Act

U.S. Congressman Tom Emmer's incorporation of the BRCA into the CLARITY Act aims to provide crucial regulatory clarity for digital assets and protect non-custodial developers.

Summary

U.S. Congressman Tom Emmer has integrated the Blockchain Regulatory Certainty Act (BRCA) into the CLARITY Act, which seeks to provide regulatory clarity for the digital asset market. The legislation aims to exclude most cryptocurrencies from being classified as securities and offers protection for developers of non-custodial software from being categorized as money service businesses.

Terms & Concepts
  • Blockchain Regulatory Clarity Act (BRCA): A proposed amendment aimed at providing regulatory clarity for blockchain technology and protecting developers in the cryptocurrency space.
  • CLARITY Act: Legislation intended to clarify the regulatory framework for blockchain and cryptocurrency, ensuring a supportive environment for innovation.
  • DeFi: Decentralized Finance, a sector of the cryptocurrency market that aims to recreate traditional financial systems using blockchain technology.