Coin Center presses Senate on BRCA bill

Coin Center has urged the US Senate Banking Committee to advance the Blockchain Regulatory Certainty Act, warning that well-intentioned crypto developers risk prosecution under current interpretations of federal law.

The latest version of the BRCA, introduced by Senators Cynthia Lummis and Ron Wyden, seeks to clarify that software developers and infrastructure providers who do not control user funds should not be treated as money transmitters.

“This is the same type of activity conducted every day by internet service providers, cloud hosting services, router manufacturers, browser developers, and email providers,”

Said Coin Center policy director, Jason Somensatto, adding:

“The same principle must apply to blockchain developers.”

Somensatto argued that blockchain innovation cannot thrive in the US if developers face constant threats of prosecution, adding that weakening BRCA provisions would create legal uncertainty and push talent offshore.

The advocacy push follows high-profile convictions of developers including Tornado Cash’s Roman Storm and Samourai Wallet founders Keonne Rodriguez and Will Lonergan Hill, who were found guilty of operating unlicensed money-transmitting businesses.

Coin Center said the BRCA would help ensure that future innovators can build decentralised systems without fear of criminal liability for how third parties use their software.

The Senate Banking Committee has not yet marked up or voted on the bill, leaving the fate of developer protections uncertain as broader crypto market structure debates continue in Congress.