Blockchain Regulatory Certainty Act stipulates that non-custodial blockchain developers, miners, validators, and wallet providers are not “money transmitters” or operators of unlicensed money-services businesses

Quotes that support claims

In a May 21 notice, Minnesota Representative Tom Emmer said he had reintroduced the Blockchain Regulatory Certainty Act, a bill that “solidifies that digital asset developers and service providers that do not custody consumer funds are not money transmitters.”

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.

At the Capitol, he reinforced the bill’s core message: “If you don’t custody consumer funds, you aren’t a money transmitter. Plain and simple.”