On June 9, DeFi Education Fund disclosed that the Blockchain Regulatory Certainty Act (BRCA) was incorporated into the latest version of the CLARITY Act. This is an important step in protecting non-custodial, peer-to-peer technology developers while maintaining strong regulation of custodial financial institutions.
The revised bill reflects a prudent balance - based on FinCEN guidance issued in 2019, it clearly states that when developers and infrastructure providers do not control customer funds, they should not be regulated as money transmitters.
Organizations supporting the statement include:
Coin Center
DeFi Education Fund
Solana Policy Institute
The Digital Chamber
Blockchain Association
Crypto Council for Innovation
Paradigm
Uniswap Labs
Jump
Bitcoin Policy Institute
