Odaily News: US Congressman Tom Emmer tweeted that his proposed "Blockchain Regulatory Certainty Act" (BRCA) has been passed by the House Committee on Financial Services.

It is reported that the bill codifies key Treasury Department guidance that was established during the Obama administration, revised during the Trump administration, and still followed during the Biden administration. It clarifies that non-custodial blockchain developers and service providers (miners, validators, wallet providers) who do not hold consumer funds do not need to register as money transmitters and are not subject to the same level of regulation as custodial cryptocurrency exchanges.

Emmer stated that BRCA provides regulatory certainty for the digital asset ecosystem to maintain innovation in the United States and ensure that the future digital economy reflects American values.