If America wants to lead in crypto, it must protect the people who build it
Key takeaways
- These are competitors, rivals for talent, capital and market share.
- Congress is closer than it has ever been to giving digital assets a real regulatory framework.
- The Blockchain Regulatory Certainty Act, or BRCA, is the foundation everything else rests on.
These are competitors, rivals for talent, capital and market share. Yet they agree on this because they understand what is at stake. Strip the developer protections out of the bill, and the United States risks pushing the people who build this technology offshore and forfeiting its lead in the next era of finance.
Congress is closer than it has ever been to giving digital assets a real regulatory framework. The Senate Banking Committee advanced the Clarity Act with bipartisan support, and the bill is now poised to move to the Senate floor for a full vote.
But one provision is under threat. The Blockchain Regulatory Certainty Act, or BRCA, is the foundation everything else rests on. It draws a bright line: if you write open-source software, run a node, or help validate transactions, and you never take custody or control of anyone's money, you are not a money transmitter under federal law.