Minnesota Rep. Tom Emmer Reintroduces Blockchain Regulatory Certainty Act
Minnesota Representative Tom Emmer has reintroduced the Blockchain Regulatory certainty Act in Congress. This bill aims to clarify that developers and service providers who don’t hold consumer funds, like miners and wallet providers, shouldn’t be classified as money transmitters.
By doing this, the bill seeks to prevent these entities from facing unnecessary licensing under state or federal money services laws. Emmer, who co-chairs the Congressional Crypto Caucus with Democratic Representative ritchie Torres, believes this measure offers “commonsense clarification.” It aims to protect innovation from moving overseas due to legal uncertainty.
Torres supports the updated bill, calling it a “smarter, sharper framework.” It provides clear rules without compromising oversight. He emphasizes that legal clarity is essential to keep developers in the U.S. “We cannot afford to let outdated regulations drive American talent and technology overseas,” he said.
Emmer first introduced the bill in 2018. As then, it has been reintroduced multiple times. The latest version, H.R. 1747, was voted down in 2023. Emmer and Torres have revised the framework based on past feedback to address earlier concerns while still supporting innovation.
Industry groups like Coin Center and the Blockchain Association back the bill. Cody Carbone of The Digital Chamber says it would “finaly give developers the freedom to build in the United States.”
However,the bill faces rising political tension over digital assets. Several democratic lawmakers are resistant to crypto legislation.For the bill to pass, it needs majority support in both chambers of Congress. While it has gained backing from key groups and bipartisan sponsors, broader congressional support is still uncertain.
