Wyden urges Senate leaders to keep dev protections in crypto bill
Senator Ron Wyden is urging Senate leaders to keep the Blockchain Regulatory Certainty Act (BRCA) in the crypto market structure bill, the CLARITY Act, as negotiations continue ahead of the midterms. He says developers who publish non-custodial software and do not control user assets should not be treated as money transmitters just for building software. Wyden argues the BRCA would provide legal certainty, support open-source and DeFi development in the U.S., and help maintain U.S. competitiveness. The provision faces pushback from some law enforcement and Catholic groups over possible gaps in illicit finance oversight, while crypto groups support it. The bill still has other disputed issues, including possible ethics rules for officials tied to crypto. Passage is under time pressure because Congress will soon recess and leaders want a floor vote before the current Congress ends.
