Minnesota Representative Tom Emmer has reintroduced the Blockchain Regulatory Certainty Act in Congress, this time with renewed bipartisan support and backing from the industry. The act aims to clarify that developers and service providers who do not custody consumer funds—such as miners, validators, and wallet providers—should not be classified as money transmitters. By establishing this distinction, the bill seeks to prevent these participants from being subjected to licensing requirements under state or federal money services laws. Emmer, who co-chairs the Congressional Crypto Caucus along with Democratic Representative Ritchie Torres, stated in a May 21 announcement that the measure offers “commonsense clarification” to help ensure innovation is not driven overseas. He emphasized that without clear legal guidelines, the U. S. risks losing developers to more crypto-friendly jurisdictions. Torres echoed this sentiment, describing the updated bill as a “smarter, sharper framework” refined through past feedback, which provides clear rules without sacrificing necessary oversight. He noted, “If we want to keep the next generation of builders in the United States, this kind of legal clarity is essential. We cannot afford to let outdated or misapplied regulations drive American talent and technology overseas. ” Emmer originally introduced the bill in 2018 to clarify how non-custodial blockchain developers fit within money transmission laws, and it has been reintroduced multiple times since.

The version before this was submitted in 2023 as H. R. 1747, though similar provisions were rejected during committee markup. Emmer and Torres say they have taken this feedback seriously, returning with a revised framework meant to address earlier concerns while still protecting core innovation principles. A number of industry advocacy organizations—including Coin Center, the Blockchain Association, the DeFi Education Fund, the Digital Chamber, and the Crypto Council for Innovation—have endorsed the bill. Cody Carbone of The Digital Chamber commented that the bipartisan legislation would “finally give [developers] the freedom to build in the United States. ” The bill’s reintroduction occurs amid escalating political tensions surrounding digital assets, with several Democratic lawmakers growing increasingly skeptical of crypto legislation, especially amid increased scrutiny over former President Donald Trump’s connections to the industry. For the bill to become law, it must secure majority support in both houses of Congress. However, it remains uncertain whether Emmer and Torres have the necessary votes. While it has gained support from key industry groups and bipartisan sponsors, broader congressional backing is still lacking.