The United States House Financial Services Committee has cleared two key crypto regulatory bills that could finally provide much-needed regulatory clarity to the space in the US.
One of the bills cleared includes the Blockchain Regulatory Certainty Act, introduced by Majority Whip Tom Emmer back in March.
The Blockchain Regulatory Certainty Act
Majority Whip Tom Emmer introduced the Blockchain Regulatory Certainty Act. The bill states that blockchain developers and service providers that do not hold custody of user assets cannot be classified as money transmitters. The bipartisan bill is co-led by Representative Darren Soto. Emmer and Soto also serve as the co-Chairs of the Congressional Blockchain Caucus. Talking about the bill, Emmer had stated,
“Crypto and blockchain technology, by nature, does not easily fit into the frameworks policymakers have considered when crafting regulations in the past. For too long, federal regulators and lawmakers have jammed the blockchain ecos
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