Two U.S. senators just filed a major regulatory proposal that could reshape how DeFi development gets treated under federal law. Cynthia Lummis and Ron Wyden introduced the Blockchain Regulatory Certainty Act on January 12, 2026—and it addresses something developers have been waiting for.

Here's what matters: The bill specifically exempts non-custodial DeFi and blockchain developers from money transmitter rules, but only when they don't control user funds. That's a critical distinction. If you're building smart contracts or protocols where users retain full custody of their assets, this framework could give you clearer legal ground to operate on.

The timing is significant too. As the DeFi ecosystem continues expanding and regulators worldwide watch closely, this kind of legislative clarity could remove uncertainty that's been hanging over independent developers. It suggests a recognition that decentralized finance architecture differs fundamentally from traditional financial intermediaries that hold customer funds.