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Blockchain Developers' Safe Harbor: Less Licensing, More Innovation.

This new law aims to simplify operations for companies and individuals developing blockchain software and services. If they do not directly control users' digital assets, they will not be required to obtain costly licenses or registrations, potentially fostering innovation in this field. Citizens may benefit from a wider range of accessible and secure digital services.
Key points
Blockchain developers and service providers will not be treated as money transmitters or financial institutions requiring licenses, unless they control users' digital assets.
The act aims to create clear rules for the blockchain industry, potentially encouraging the development of new, innovative digital solutions.
State laws inconsistent with this act regarding licensing and registration for blockchain developers will not be enforceable.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_1747
Sponsor: Rep. Emmer, Tom [R-MN-6]
Process start date: 2023-03-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
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 118_HR_1747.

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 2023-03-23.

What are the main provisions?

Key points include:

  • Blockchain developers and service providers will not be treated as money transmitters or financial institutions requiring licenses, unless they control users' digital assets.
  • The act aims to create clear rules for the blockchain industry, potentially encouraging the development of new, innovative digital solutions.
  • State laws inconsistent with this act regarding licensing and registration for blockchain developers will not be enforceable.
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: Placed on the Union Calendar, Calendar No. 403.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy Courts and Law Informatization