The U.S. Senate has made new progress in advancing a cryptocurrency regulatory framework. Senators Cynthia Lummis from the Republican Party and Ron Wyden from the Democratic Party jointly proposed the "Blockchain Regulatory Certainty Act," which was announced this Monday. The core of the bill points to a key issue: who exactly qualifies as a money transmitter?

The answer in the bill is straightforward—those who do not control user funds are not considered. What does this mean? Developers finally have clear regulatory boundaries. The previously vague definitions left many blockchain developers and service providers unsure whether they would be caught up in laws related to money transmission. Now, this bill aims to draw clear lines, allowing development teams to focus on technological innovation without constantly worrying about regulatory surprises. This is the certainty the blockchain industry has long awaited—policy makers and the industry are finally reaching a consensus on some key issues.