January 12, 2026
Ms. Lummis (for herself and Mr. Wyden) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To clarify the treatment of certain non-controlling developers or providers of distributed ledger services involved in digital assets with respect to money transmission laws, and for other purposes.
Section 1. Short title
This Act may be cited as the Blockchain Regulatory Certainty Act of 2026
.
Sec. 2. Treatment of certain non-controlling developers with respect to money transmission laws
(a) Definitions
In this section:
(1) Developer or provider
The term developer or provider means any person or business that creates or publishes software to facilitate the creation of, or provide maintenance to, a distributed ledger, or a service associated with a distributed ledger.
(2) Digital asset
The term digital asset means any digital representation of value which is recorded on a cryptographically secured distributed ledger.
(3) Distributed ledger
The term distributed ledger means technology in which data is shared across a network that—
(A)
creates a public digital ledger of verified transactions or information among network participants; and
(B)
uses cryptography to link the data to maintain the integrity of the public ledger and execute other functions.
(4) Distributed ledger service
The term distributed ledger service means any information, transaction, or computing service or system that provides or enables access to a distributed ledger system by multiple users, including a service or system that enables users to send, receive, exchange, or store digital assets described by distributed ledger systems.
(5) Non-controlling developer or provider
The term non-controlling developer or provider means a developer or provider of a distributed ledger service that, in the regular course of operations, does not have the legal right or the unilateral and independent ability to control, initiate upon demand, or effectuate transactions involving digital assets to which users are entitled, without the approval, consent, or direction of any other third party.
(b) Treatment
Notwithstanding any other provision of law, a non-controlling developer or provider—
(1)
shall not be treated as—
(A)
a money transmitting business, as defined in section 5330 of title 31, United States Code, and the regulations promulgated under that section; or
(B)
engaged in money transmitting, as defined in section 1960 of title 18, United States Code, as amended by this Act; and
(2)
on or after the date of enactment of this Act, shall not be otherwise subject to any registration requirement that is substantially similar to a requirement (as in effect on the day before the date of enactment of this Act) that applies to an entity described in subparagraph (A) or (B) of paragraph (1), solely on the basis of—
(A)
creating or publishing software to facilitate the creation of, or providing maintenance services to, a distributed ledger or a service associated with a distributed ledger;
(B)
providing hardware or software to facilitate a customer’s own custody or safekeeping of the digital assets of the customer; or
(C)
providing infrastructure support to maintain a distributed ledger service.
(c) Rules of construction
Nothing in this section may be construed—
(1)
to affect whether a developer or provider of a blockchain service is otherwise subject to classification or treatment as a money transmitter, or as engaged in money transmitting, under applicable Federal or State law, including laws relating to anti-money laundering or countering the financing of terrorism, based on conduct outside the scope of subsection (b);
(2)
to affect whether a developer or provider is otherwise subject to classification or treatment as a financial institution under subchapter II of chapter 53 of title 31, United States Code, this Act, any amendment made by this Act, or any Act enacted after the date of enactment of this Act;
(3)
to limit or expand any law pertaining to intellectual property;
(4)
to prevent any State from enforcing any State law that is consistent with this section; or
(5)
to create a cause of action or impose liability under any State or local law that is inconsistent with this section.