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Republican Senator Cynthia Lummis and Democratic Senator Ron Wyden have introduced a bill that explicitly states that software developers who do not control user funds are not considered money transmitters. The bill, called the "Blockchain Regulatory Certainty Act," was introduced on Monday and aims to establish clear regulatory guardrails for developers and service providers, shielding them from related money transmission laws. Senator Wyden stated that forcing developers who write code to comply with the same rules as exchanges or brokers is a misunderstanding of technology and infringes on privacy and free speech. According to sources, the bill may be incorporated into the current version of the Senate Banking Committee's cryptocurrency market structure legislation. (TheBlock)