This act exempts certain non-controlling blockchain software developers and service providers from being classified as money transmitters under federal law.
Cynthia Lummis
Senator
WY
The Blockchain Regulatory Certainty Act of 2026 clarifies the regulatory status of certain software developers in the digital asset space. This bill specifically exempts non-controlling developers and service providers for distributed ledger technology from being classified as "money transmitters" under federal law. This exemption applies when their activities involve creating software or providing infrastructure support, rather than controlling user transactions. The Act ensures these foundational developers are not subject to money transmission registration requirements based solely on their technical contributions.
New Blockchain Bill Shields Developers from 'Money Transmitter' Rules, Boosting Crypto Innovation
Alright, let's talk blockchain. We've all heard the buzz, but the regulatory landscape has been, well, a bit of a swamp. This new piece of legislation, the "Blockchain Regulatory Certainty Act of 2026," is basically a big signpost pointing out who isn't a money transmitter in the crypto world, which is a pretty big deal for anyone building stuff in this space.
Clearing the Crypto Fog
At its core, this bill says if you're a developer or provider creating, publishing, or maintaining software for a distributed ledger (that's blockchain to you and me), you're generally not going to be treated as a "money transmitting business" under federal law. This is huge because being labeled a money transmitter comes with a ton of strict regulations, like those under 31 U.S.C. 5330 or 18 U.S.C. 1960, usually reserved for folks like Western Union or banks. The key here is being a "non-controlling developer or provider"—meaning you don't have the unilateral power to move someone else's digital assets without their say-so. Think of it this way: if you build the car, but don't hold the keys or drive it for anyone else, you're probably in the clear.
What This Means for Everyday Tech
So, if you're a coder building the next big decentralized app, or a company providing the infrastructure that keeps a blockchain running, this bill aims to take a lot of regulatory weight off your shoulders. It means less red tape and fewer legal headaches just for writing code or offering support. For example, a software engineer creating a new kind of digital wallet application, or a firm providing server space for a blockchain network, won't automatically be hit with the same regulatory requirements as a traditional money-moving service. This clarity could really light a fire under innovation, encouraging more developers to jump into the blockchain space without fear of accidentally breaking complex financial laws.
The Fine Print and Future Outlook
Now, it's not a free pass for everyone. The bill is pretty specific: this exemption only applies to your activities as a non-controlling developer. If you start acting like a traditional money transmitter in other ways, then all bets are off. Also, it doesn't stop states from enforcing their own laws, as long as they're consistent with this federal rule. What this really boils down to is a push to make the rules of the road clearer for digital assets. By defining who isn't a money transmitter, the bill makes it easier for legitimate blockchain development to flourish, potentially leading to more secure and innovative digital services down the line. It's about giving the builders a clearer path, which is good news for anyone who uses or is interested in the future of digital assets.