The Blockchain Regulatory Certainty Act maintains the original Senate version, retaining protections for non-custodial developers

Odaily cryptocurrency reporter Eleanor Terrett stated that the Blockchain Regulatory Certainty Act (BRCA) remains consistent with the version passed by the Senate Banking Committee in May.

It is reported that the bill continues to clarify that non-custodial software developers and blockchain infrastructure providers will not be considered money transmitters solely for building or maintaining a decentralized network. Meanwhile, the Lummis-Grassley amendment is retained, maintaining federal criminal liability for "intentionally" facilitating illegal transactions.

Additionally, the relevant content of the "Keep Your Coins Act" remains unchanged, continuing to protect users' right to self-custody of their own crypto assets.

Regarding stablecoin yields, the bill retains the original compromise, prohibiting companies from paying interest on users' idle stablecoin balances but allowing rewards related to actual activities, such as trading or staking rewards, provided they are not economically or functionally equivalent to bank deposit interest.

The bill also adds new sections related to law enforcement, including increased funding for state and local cryptocurrency investigations and blockchain analysis tools, establishing training programs for law enforcement agencies and prosecutors, and creating a "Cyber Center" to address threats from state actors such as North Korea and Iran.

Furthermore, the bill clarifies the treatment of digital assets in the event of an exchange or custodian bankruptcy, ensuring that customer assets remain customer property rather than becoming part of the company's bankruptcy estate, aiming to prevent a recurrence of events like the FTX incident.