BRCA is designed to protect developers of non-custodial blockchain technologies by excluding them from money transmitter regulations

Quotes that support claims

The organizations noted that developers in the U.S. are creating peer-to-peer, non-custodial software, and the infrastructure providers who enable decentralized networks have little in common with traditional financial institutions and should not be treated as such. According to the Blockchain Foundation, BRCA acknowledges that reality and ensures that when software developers do not control or custody customer funds, they are not required to register as money-transmitting businesses.

The BRCA is made to safeguard persons working on non-custodial blockchain technologies. According to the bill, those developers won’t be governed as money transmitter rules.

The BRCA aims to protect developers of non-custodial blockchain technology from being classified as money transmitters.