A bipartisan effort led by Minnesota Representative Tom Emmer has reintroduced the Blockchain Regulatory Certainty Act in Congress. This bill aims to clarify that digital asset developers and service providers who do not handle consumer funds are not classified as money transmitters. Emmer, a Republican, announced the legislation alongside Democratic Representative Ritchie Torres, who co-leads the bill. While they seek to protect innovation in the digital asset space, some Democratic lawmakers are hesitant to support crypto-related legislation due to concerns regarding President Donald Trump’s potential conflicts of interest, especially related to his connections with a memecoin and his family’s stake in World Liberty Financial. Torres expressed that the new proposal incorporates feedback from previous discussions that led to similar language being voted down, indicating an effort to create a more effective regulatory framework. Advocacy organizations within the blockchain ecosystem are showing support for the bill, although it remains uncertain if they have sufficient backing to pass it in the House.

Source 🔗