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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
A bipartisan bill, the Blockchain Regulatory Certainty Act (BRCA), has been reintroduced in the US Congress to exempt non-custodial blockchain developers from money transmitter regulations. The move aims to foster innovation while providing much-needed regulatory clarity for the crypto industry.
- The BRCA bill clarifies that non-custodial blockchain developers and service providers are not money transmitters, reducing regulatory burdens.
- Industry experts, including Coin Center and The Digital Chamber, support the bill as crucial for fostering US-based crypto innovation.
- This marks another attempt to pass the BRCA, which was first introduced in 2018 but previously voted down in committee.
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