Blockchain Regulatory Clarity Act Maintains Senate Version With Non-Custodial Developer Protections

According to crypto reporter Eleanor Terrett, the Blockchain Regulatory Clarity Act (BRCA) maintains the version passed by the Senate Banking Committee in May. The bill clarifies that non-custodial software developers and blockchain infrastructure providers will not be classified as money transmitters solely for building or maintaining decentralized networks.

The Lummis-Grassley amendment remains intact, preserving federal criminal liability for those who knowingly facilitate illegal transactions. Stablecoin yield restrictions continue: companies are prohibited from paying interest on idle stablecoin balances but may offer activity-linked rewards such as trading or staking bonuses that are not economically equivalent to bank deposit interest. The bill also defines how digital assets are handled during exchange or custody bankruptcy, ensuring customer assets remain customer property rather than company bankruptcy assets.