Blockchain Regulatory Certainty Act of 2026
Summary
The Blockchain Regulatory Certainty Act of 2026 aims to clarify the treatment of non-controlling developers and providers of distributed ledger services concerning money transmission laws. It seeks to provide a legal framework that exempts certain blockchain developers from being classified as money transmitters under specific conditions. This clarification is intended to foster innovation and growth in the digital asset space.
Expected Effects
The act would create a distinction between developers who control digital asset transactions and those who do not. Non-controlling developers would be exempt from money transmission regulations, reducing regulatory burdens. This could lead to increased investment and development in blockchain technology and digital assets.
Potential Benefits
- Reduced regulatory uncertainty for blockchain developers.
- Potential for increased innovation and investment in the digital asset space.
- Clarification of legal responsibilities for non-controlling developers.
- Encourages development of blockchain technology.
- May lead to new business models and services related to digital assets.
Most Benefited Areas:
Potential Disadvantages
- Potential for regulatory loopholes if the definition of "non-controlling" is too broad.
- Risk of misuse by malicious actors seeking to avoid money transmission regulations.
- Possible challenges in distinguishing between controlling and non-controlling developers in practice.
- Could create inconsistencies in how different states regulate digital assets.
- May not address all aspects of blockchain regulation, leaving other areas uncertain.
Constitutional Alignment
The bill appears to align with the spirit of promoting general welfare (Preamble) by fostering innovation and economic growth. Congress's power to regulate commerce (Article I, Section 8) provides a basis for establishing rules around digital assets and money transmission. The bill does not appear to infringe on any specific constitutional rights.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).