A bipartisan push is underway to clarify federal rules for blockchain innovation. U.S. Senators Cynthia Lummis of Wyoming and Ron Wyden of Oregon announced on Jan. 12 that they have introduced the Blockchain Regulatory Certainty Act, aimed at shielding certain blockchain developers from money transmitter requirements.
Senator Lummis, Senate Banking Digital Assets Subcommittee chair, stated:
“ Blockchain developers who have simply written code and maintain open-source infrastructure have lived under threat of being classified as money transmitters for far too long.”
She added that treating developers like financial institutions despite lacking access to customer funds “unnecessarily limits innovation” and creates legal exposure for activities that do not involve money laundering risk.
The proposed Blockchain Regulatory Certainty Act establishes federal standards determining when blockchain developers and infrastructure providers fall outside money transmitter definitions. The measure focuses on “non-controlling developers or providers,” defined as individuals or businesses that develop or maintain distributed ledger technology without the legal authority or unilateral ability to initiate or complete transactions involving user assets. Protected activities include publishing blockchain software, maintaining distributed networks, supporting self-custody tools, and supplying infrastructure that enables ledger operations.
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Senator Wyden, chair of the Senate Finance Committee, explained:
“Forcing developers who write code to follow the same rules as exchanges or brokers is technologically illiterate and a recipe for violating Americans’ privacy and free speech rights.”
He emphasized that the federal government can oversee digital asset markets without dictating what software creators are permitted to build.
Lawmakers backing the bill contend that regulatory ambiguity has pushed development offshore while exposing U.S.-based teams to inconsistent state-level requirements. The legislation preserves state enforcement authority when aligned with federal standards but prevents states from imposing money transmitter obligations on developers engaged solely in the outlined activities. Supporters also point to a 2024 letter from Lummis and Wyden to Attorney General Merrick Garland, which questioned the Justice Department’s interpretation of money transmission and highlighted inconsistencies with Treasury Department guidance from the Financial Crimes Enforcement Network.
- What does the Blockchain Regulatory Certainty Act aim to change?
It defines when blockchain developers and infrastructure providers are not considered money transmitters under federal law. - Who qualifies as a non-controlling blockchain developer?
Developers who write or maintain blockchain software without authority over user funds or transactions. - Why do lawmakers say current rules hurt blockchain innovation?
They argue regulatory ambiguity forces developers offshore and exposes U.S. teams to conflicting state requirements. - Does the bill eliminate state oversight of digital assets?
No, it preserves state enforcement authority when aligned with federal standards.
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