Legislation regarding non-custodial providers has been reintroduced in Congress, highlighting its significance for the blockchain technology sector.
Introduction of the Blockchain Act
On May 22, 2025, Representatives Tom Emmer and Ritchie Torres reintroduced the Blockchain Act. This legislation aims to protect non-custodial providers from the scope of money transmitter regulations. It marks the fourth iteration of the bill.
Potential Impact on Crypto Companies
The bill could prevent crypto companies from fleeing the U.S. due to regulatory burdens. By focusing on non-custodial services, the act may preserve innovation within national borders. Research suggests such exemptions could foster economic growth in the U.S. by creating a more hospitable environment for blockchain initiatives.
Ongoing Efforts for Legislative Clarity
The Blockchain Regulatory Certainty Act has seen multiple reintroductions, showcasing legislators' sustained interest in securing regulatory freedom for crypto innovations. Representative Tom Emmer stated, "If you don't custody consumer funds, you aren't a money transmitter. Plain and simple."
The reintroduction of the Blockchain Act emphasizes the importance of legislative clarity for the crypto technology sector and may promote increased domestic investment.
