A group of U.S. senators has introduced the Blockchain Regulatory Certainty Act, according to reports. The bill seeks to establish legal clarity for crypto developers by specifying that individuals involved in writing software or maintaining blockchain networks should not be automatically classified as money transmitters under federal or state laws. The proposed legislation aims to provide a more defined regulatory framework, ensuring that developers are not unduly burdened by regulations intended for financial institutions. The development could foster innovation within the blockchain space.

A group of U.S. senators has introduced the Blockchain Regulatory Certainty Act, according to reports. The bill seeks to establish legal clarity for crypto developers by specifying that individuals involved in writing software or maintaining blockchain networks should not be automatically classified as money transmitters under federal or state laws. The proposed legislation aims to provide a more defined regulatory framework, ensuring that developers are not unduly burdened by regulations intended for financial institutions. The development could foster innovation within the blockchain space.