Blockchain Regulatory Certainty Act aims to provide legal certainty by exempting entities that never hold consumer funds from bank-style licensing requirements, thereby fostering U.S. innovation

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The bill aims to provide clarity and legal protection for blockchain developers and service providers, ensuring they are not misclassified as money transmitters if they don’t handle user funds.

The bill, called the Blockchain Regulatory Certainty Act, would give more regulatory confidence to miners, validators and wallet providers who don't custody customers' funds, according to a statement released on Wednesday.

"If we want to keep the next generation of builders in the United States, this kind of legal clarity is essential," Torres said in a statement. "We cannot afford to let outdated or misapplied regulations drive American talent and technology overseas. With this bill, we protect innovation, uphold civil liberties, and strengthen our global competitiveness in the 21st-century economy."