Eleanor Terrett has said the Blockchain Regulatory Certainty Act (BRCA) remains unchanged from the version that passed the Senate Banking Committee in May. According to information shared in a July 22, 2026 post on X, the bill continues to clarify that non-custodial software developers and blockchain infrastructure providers should not be classified as money transmitters merely for maintaining decentralized networks.

Primary source: https://x.com/EleanorTerrett/status/2079962532614115361

Regulatory Context

The cryptocurrency sector continues to operate amid a complex regulatory environment, with market participants seeking clearer rules for developers, service providers and users. The BRCA, originally introduced in the House by Rep. Tom Emmer, is intended to provide that clarity by specifying that non-custodial software developers are not to be treated as money transmitters solely because they build or maintain software connected to decentralized blockchain networks.

That distinction is significant for developers and infrastructure providers that do not take custody of user funds. Under the bill's approach, such entities would not automatically be subject to traditional money transmission requirements simply because their tools support blockchain activity. This question has taken on added weight as state-level regulators and federal agencies have pursued enforcement actions against crypto entities over money transmission and licensing obligations, leaving developers uncertain about their legal exposure.

The Lummis-Grassley amendment also remains intact. That amendment preserves existing federal criminal liability for people who knowingly facilitate illicit transactions. Its inclusion maintains a distinction between protecting non-custodial development activity and preserving enforcement authority against intentional criminal conduct.

The Keep Your Coins Act also continues to protect individuals' rights to self-custody their cryptocurrencies. The measure is aimed at preserving user control over digital assets at a time when regulatory scrutiny of the crypto industry remains elevated.

Key Details

Terrett's update confirms that the BRCA has not changed from the previous version that cleared the Senate Banking Committee. The bill maintains language stating that non-custodial software developers are not money transmitters simply because of their role in supporting decentralized systems. The Lummis-Grassley amendment remains part of the package, preserving federal criminal liability for those who knowingly enable illicit transactions. The Keep Your Coins Act also remains included, continuing to protect individual self-custody rights.

Broader Legislative Efforts

The current regulatory environment for cryptocurrencies includes ongoing debate over compliance obligations, developer liability and the treatment of non-custodial services. These bills are part of a wider congressional effort that has also included discussions around stablecoin regulation and market structure legislation, reflecting sustained legislative attention to digital asset oversight. No specific market price data was provided in connection with the update, but regulatory developments continue to influence how stakeholders assess compliance responsibilities and operating models.

The Blockchain Regulatory Certainty Act is part of broader legislative efforts to create clearer rules for the crypto industry. Senator Ron Wyden has recently advocated for the act, which seeks to define the responsibilities of developers in the blockchain sector. The continued inclusion of the Keep Your Coins Act underscores an effort to protect individual rights in the management of digital assets while lawmakers consider how to balance innovation with regulation.

What Comes Next

Traders, developers and other crypto industry stakeholders are expected to continue monitoring developments related to the BRCA and other regulatory initiatives. Clear definitions for non-custodial developers and protections for self-custody could affect how blockchain companies, software developers and users evaluate future compliance frameworks.

As legislative discussions continue, market participants will be watching for any changes that could affect operational requirements, legal exposure or compliance strategies across the digital asset sector.