The two U.S. political parties push for new blockchain regulation legislation, developers may be able to break free from legal restrictions on fund transfers

【Crypto World】Recently, the US Congress has taken new action. Bipartisan senators jointly proposed the “Blockchain Regulatory Certainty Act,” and the core content of this bill is quite interesting — it stipulates that software developers who do not directly control user funds will no longer be classified as money transmitters.

In other words, this is drawing a clear regulatory red line for developers. For those building wallets, smart contracts, or other Web3 applications, as long as you do not hold users’ assets, you can be exempt from the layers of traditional money transmission regulations.

The significance of this bill is to clear up some ambiguities in the entire ecosystem. Previously, many developers were walking on thin ice legally, unsure whether they would be misclassified as money service providers. Now, with such certainty safeguards, at least in the US market, developers can focus more confidently on technological innovation.