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Clear Rules for Blockchain Firms Not Controlling Your Digital Money

This proposed law aims to clarify that companies building blockchain technology or providing blockchain services do not need special licenses, like banks do, as long as they do not have control over users' digital currency. This means services where you manage your own digital assets could operate without certain regulatory requirements.
Key points
Blockchain companies don't need bank-like licenses if they don't control your digital money.
The bill seeks to provide legal clarity for blockchain developers and service providers who do not hold user funds.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_5045
Sponsor: Rep. Emmer, Tom [R-MN-6]
Process start date: 2021-08-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Blockchain Regulatory Certainty Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5045.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-08-17.

What are the main provisions?

Key points include:

  • Blockchain companies don't need bank-like licenses if they don't control your digital money.
  • The bill seeks to provide legal clarity for blockchain developers and service providers who do not hold user funds.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Emmer, Tom [R-MN-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy