Major players in the cryptocurrency sector, including Uniswap, Jump, and six other leading organisations, have welcomed the inclusion of the Blockchain Regulatory Certainty Act (BRCA) in the CLARITY Act. This initiative, highlights by Journalist Eleanor Terrett in an X post, is seen as a critical step in protecting developers working on non-custodial blockchain technologies.
The BRCA ensures that developers who do not control user funds will not bet classified as money transmitters, aligning with a 2019 FinCEN (Financial Crimes Enforcement Network) ruling. Backed by industry advocates like Coin Center, Paradigm, Solana Policy Institute, the DeFi Education Fund, and the Blockchain Association, the bill provides legal clarity while maintaining financial regulations.
Key lawmakers including Chairman Hill, Chair Steil, Majority Whip Emmer, and Representative Torres, played a significant role in advancing the legislation. Peter Van Valkenburgh, a policy expert at Coin Center, emphasised that the updated CLARITY ACT reinforces FinCEN’s 2019 guidance, calling it a “major milestone” for decentralized innovation.
While the CLARITY Acts still awaits full congressional approval, its progress signals growing recognition of blockchain’s unique legal needs. If passed, the law could streghthen the U.S crypto industry, boost customer protection, and align with increasing institutional adoption, evidenced by recent high-profile Bitcoin investment.
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