U.S. Representative Tom Emmer: The House Financial Services Committee passed the "Blockchain Regulatory Determination Act"
U.S. Representative Tom Emmer tweeted that his proposed Blockchain Regulatory Certainty Act (BRCA) was passed by the House Financial Services Committee. It is reported that the bill clarifies that non-custodial blockchain developers and service providers (miners, validators, wallet providers) who never custodian consumer funds do not have to register as money transmitters and are not subject to the same restrictions as custodial encryption. The same level of regulation as currency exchanges.
