U.S. Representative Tom Emmer tweeted that his Blockchain Regulatory Certainty Act has just been passed by the U.S. House of Representatives Financial Services Committee.
The bill codifies into law key Treasury Department guidelines enacted under the Obama administration and re-enacted under the Trump administration to ensure that developers and non-custodial service providers (miners, validators, wallet providers) in the crypto space are not considered Money Transmitters and are not subject to the same level of regulation as custodial cryptocurrency exchanges.
The bill has passed the Financial Services Committee of the U.S. House of Representatives and will be voted on by the U.S. House of Representatives next.