U.S. Senator Proposal Protects Developers: Software Creators Will Be Exempt from Fund Transfer Regulations

【Chain Wen】The US Congress has taken new steps regarding cryptocurrency policy. Republican Senator Cynthia Lummis and Democratic Senator Ron Wyden jointly introduced the “Blockchain Regulatory Certainty Act,” which is straightforward in its core content—software developers who do not control user funds should not be regulated as money transmitters.

What is the background of this bill? The current issue is that some developers write code and build decentralized applications, but are constrained by regulatory authorities based on standards for exchanges or brokers, which is clearly inappropriate. Wyden stated in a release, “Applying the same rules to developers who write code as to exchanges is technically unfounded and threatens Americans’ privacy rights and freedom of speech.”

This proposal was submitted based on the ongoing work in the House of Representatives. According to informed sources, the Senate version of the bill is likely to be incorporated into broader cryptocurrency market structure legislation currently being drafted by the Senate Banking Committee. The Senate Agriculture Committee has scheduled the review of the crypto market structure bill for the last week of January.

In simple terms, this is a step toward a clearer and more rational crypto policy framework. By distinguishing the roles of developers, trading platforms, and fund custodians, policies can be more targeted and innovation can be protected.