Tom Emmer Brings Back the Blockchain Regulatory Certainty Act with Bipartisan Firepower!

Crypto World Hangs on Every Word as Emmer and Torres Fight for Innovation

Minnesota's own Tom Emmer just slammed the Blockchain Regulatory Certainty Act back onto the Congressional table, backed by both sides of the aisle and a roaring wave of industry support. This ain't no quiet comeback; it's a full-blown charge into the heart of crypto regulation!

This act is all about drawing a line in the sand: developers, miners, validators, and wallet providers who aren't holding your cash should NOT be tossed in with money transmitters. It's a game-changer for those in the trenches of blockchain innovation.

The bill's on a mission to keep these crypto warriors from getting bogged down in a swamp of state and federal money service laws. It's about freeing the innovators to do what they do best—innovate!

Emmer, co-chairing the Congressional Crypto Caucus with the dynamic Democratic Representative Ritchie Torres, fired off a notice on May 21 that this bill is the "commonsense clarification" needed to keep the U.S. at the forefront of blockchain tech. He's not messing around, warning that without this clarity, the U.S. could lose its brightest minds to countries rolling out the red carpet for crypto.

Torres is just as fired up, calling the bill a "smarter, sharper framework" that's been battle-tested by past feedback. He's all in, pushing for clear rules that don't handcuff oversight but keep the U.S. as the epicenter of blockchain brilliance.

"If we want to keep the next generation of builders in the United States, this kind of legal clarity is essential. We cannot afford to let outdated or misapplied regulations drive American talent and technology overseas," Torres declared, laying down the gauntlet.

Emmer first dropped this bombshell in 2018, aiming to carve out space for non-custodial blockchain developers under money transmission laws. It's been a rollercoaster ride since, with multiple reintroductions and tweaks.

The last go-around was in 2023 with H.R. 1747, but it hit a wall in committee. Emmer and Torres aren't ones to back down; they've listened, learned, and come back swinging with a revised framework that tackles past concerns head-on while keeping their eyes on the prize of innovation.

The crypto community is rallying behind this bill like never before, with heavy hitters like Coin Center, the Blockchain Association, the DeFi Education Fund, the Digital Chamber, and the Crypto Council for Innovation all throwing their weight behind it.

Cody Carbone from The Digital Chamber is all in, saying the bipartisan bill would "finally give [developers] the freedom to build in the United States." It's a rallying cry for the future of crypto in America.

The bill's return is lighting up the political scene, especially with tensions skyrocketing over digital assets. Some Democratic lawmakers are getting cold feet about crypto legislation, especially with the spotlight on President Donald Trump's ties to the industry.

To get this bill over the finish line, Emmer and Torres need to rally a majority in both the House and Senate. It's a tall order, and it's not clear if they've got the votes yet.

While the bill's got the backing of key industry groups and bipartisan sponsors, the rest of Congress is still playing hard to get. But one thing's for sure: the fight for the future of crypto in the U.S. is on, and Emmer and Torres are leading the charge!