Washington, D.C. (July 25, 2023) – Blockchain Association is proud to support Congressman Tom Emmer’s bipartisan Blockchain Regulatory Certainty Act, cosponsored by Congressman Darren Soto, which would affirm that blockchain developers and other related service providers that do not custody customer funds are not – and should not be regulated as – money transmitters.
The following statement is attributed to Blockchain Association CEO Kristin Smith:
“Congressman Emmer’s bill ensures that entities such as cryptocurrency miners, validators, and wallet providers would not be subject to burdensome money transmission regulators. Without this clarification, these entities would likely seek to base their services offshore, where the regulatory regime is more clear. The Blockchain Regulatory Certainty Act ensures American digital asset innovations can continue to thrive here in the United States. We urge members of the committee to vote in favor of this bill.”