Blockchain Regulatory Certainty Act

The Blockchain Regulatory Certainty Act (HR 1747) creates a legal safe harbor for blockchain developers and service providers who do not control user digital assets. It prevents these entities from being classified as licensed money transmitters or financial institutions under state or federal law, unless they actively control user assets (defined as the legal right to initiate transactions spending those assets). The bill specifically protects non-controlling developers and services like public blockchain networks enabling digital asset transactions. It clarifies that this protection doesn’t override intellectual property laws or state laws consistent with the act, but blocks enforcement of conflicting state regulations. This directly affects blockchain companies building platforms without managing user funds.