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Senators Ron Wyden and Cynthia Lummis Reintroduce Bipartisan Blockchain Regulatory Certainty Act

Senators Ron Wyden and Cynthia Lummis Reintroduce Bipartisan Blockchain Regulatory Certainty Act

The bipartisan bill clarifies federal money transmitter rules, excluding non-custodial developers and infrastructure providers without legal rights or unilateral control to move users’ digital assets.

Fact Check
The assessment that the statement is 'likely true' is based on a strong consensus across multiple, high-authority sources. A direct announcement from the GOP Majority Whip's official X account explicitly confirms that Senators Wyden and Lummis introduced the legislation. This is corroborated by several reports from reputable news outlets specializing in policy and cryptocurrency, such as The Block and CoinDesk, which also state that the two senators introduced the 'Blockchain Regulatory Certainty Act'.Some sources mention a House of Representatives version of a bill with the same name, sponsored by different lawmakers like Tom Emmer. This information does not contradict the claim but rather points to a common legislative practice where companion bills are introduced in both chambers of Congress. Therefore, the existence of a House bill does not negate the existence of the Senate bill mentioned in the statement. The collective weight of direct, primary, and secondary source confirmation strongly supports the truthfulness of the statement.
Summary

U.S. Senators Ron Wyden and Cynthia Lummis reintroduced the bipartisan Blockchain Regulatory Certainty Act to clarify when blockchain developers and infrastructure providers are considered money transmitters under federal law. The bill excludes entities without legal rights or unilateral ability to move users’ digital assets, aiming to protect non-custodial activities. It also seeks to shield software development, network maintenance, and self-custody solutions from money transmitter classification while aligning state enforcement with the federal framework.

Terms & Concepts
  • Blockchain Regulatory Certainty Act (BRCA): A proposed U.S. federal bill to clarify that certain blockchain developers and infrastructure providers are not subject to money transmitter regulations.
  • Money transmitter: A regulated entity that receives and transmits money or value on behalf of others, typically subject to licensing and AML requirements.
  • Non-custodial: Describes services or tools that do not hold or control users’ funds or private keys.