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.
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Tom Emmer introduces legislation to provide protection for blockchain developers
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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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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
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