The Blockchain Regulatory Certainty Act (BRCA) has been incorporated into the latest version of the CLARITY Act, according to a joint statement from several organizations. This inclusion aims to protect developers of non-custodial, peer-to-peer technologies while ensuring robust oversight of custodial financial institutions.
The revised bill builds on FinCEN's 2019 guidance by clarifying that developers and infrastructure providers who do not control customer funds should not be regulated as money transmitters. The statement expresses gratitude towards Chairman Hill, Chair Steil, Majority Whip Emmer, Rep. Torres, and various staff and stakeholders for their contributions to this legislative development.
Organizations such as the Bitcoin Policy Institute, Blockchain Association, Coin Center, Crypto Council for Innovation, DeFi Education Fund, Jump Crypto, Paradigm, Solana Policy Institute, The Digital Chamber, and Uniswap Labs were involved in making this inclusion possible.
