WASHINGTON, Jan. 12 -- Sen. Cynthia Lummis issued the following press release:
U.S. Senator Cynthia Lummis (R-WY), Senate Banking Digital Assets Subcommittee Chair, joined U.S. Senator Ron Wyden (D-OR) in introducing the Blockchain Regulatory Certainty Act, bipartisan legislation that clarifies that software developers and infrastructure providers who do not control user funds are not money transmitters under federal law.
"Blockchain developers who have simply written code and maintain open-source infrastructure have lived under threat of being classified as money transmitters for far too long," said Lummis. "This designation makes no sense when they never touch, control, or have access to user funds, and unnecessarily limits innovation. ...