Blockchain Act Returns to Exempt Wallets, Miners from Regulations

Representatives Emmer and Torres Revive Blockchain Legislation

Blockchain Act reintroduced on May 22, 2025, by Representatives Tom Emmer and Ritchie Torres. The legislation seeks to shield non-custodial providers from the money transmitter regulatory scope. This is the fourth iteration.

Tom Emmer and Ritchie Torres lead bipartisan push for regulatory clarity. The act targets protecting innovation from regulatory overreach and maintaining the U.S. as a hub for blockchain development.

Crypto Firms May Find Regulatory Relief in U.S.

The bill could prevent crypto companies from fleeing the U.S. due to regulatory burdens. By focusing on non-custodial services, the act may preserve innovation within national borders.

The exemption highlights potential for U.S. economic growth by fostering a more hospitable environment for blockchain innovation. The Blockchain Association has shown support by emphasizing the clarity it offers.

Repeated Efforts Highlight Push for Crypto Clarity

The Blockchain Regulatory Certainty Act has seen multiple introductions, similar to past attempts at securing regulatory freedom for crypto innovations. Consistent reintroductions showcase enduring legislative interest.

Historically, regulatory clarity often inspires technological ventures. If successful, lawmakers expect the bill might ignite increased domestic investment in blockchain, enhancing competitive standing.

Representative Tom Emmer (R-IN), Majority Whip – “If you don’t custody consumer funds, you aren’t a money transmitter. Plain and simple. The longer we delay this commonsense clarification, the greater the risk that this transformative technology is pushed overseas, harming American investors and innovators.”