HR 1747
Blockchain Regulatory Certainty Act
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- Passed House
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Bill overview
The Blockchain Regulatory Certainty Act aims to provide clarity and a safe harbor for blockchain developers and service providers. It clarifies that these entities are not automatically considered money transmitters or financial institutions, as long as they don’t control consumer funds. This legislation seeks to encourage innovation in the blockchain space by reducing regulatory burdens for developers who don't manage customer assets directly. It also ensures states can enforce consistent laws while preventing conflicting regulations.
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