On March 23, Representatives Tom Emmer and Darren Soto introduced a bipartisan bill called the “Blockchain Regulatory Certainty Act” to establish greater clarity for the digital currency industry.
The bill aims to provide blockchain developers, miners, notaries, and digital wallet providers with legal safe harbor from strict regulations imposed on entities that control consumer funds, such as exchanges.
The proposal involves considering entities that only hold consumer funds as money transmitters, therefore exempting miners, notaries, and digital wallet providers who do not receive consumer funds from obtaining licenses or complying with regulatory requirements.
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