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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3611 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
2d Session
S. 3611
To clarify the treatment of certain non-controlling developers or
providers of distributed ledger services involved in digital assets
with respect to money transmission laws, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 12, 2026
Ms. Lummis (for herself and Mr. Wyden) introduced the following bill;
which was read twice and referred to the Committee on Banking, Housing,
and Urban Affairs
_______________________________________________________________________
A BILL
To clarify the treatment of certain non-controlling developers or
providers of distributed ledger services involved in digital assets
with respect to money transmission laws, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Blockchain Regulatory Certainty Act
of 2026''.
SEC. 2. TREATMENT OF CERTAIN NON-CONTROLLING DEVELOPERS WITH RESPECT TO
MONEY TRANSMISSION LAWS.
(a) Definitions.--In this section:
(1) Developer or provider.--The term ``developer or
provider'' means any person or business that creates or
publishes software to facilitate the creation of, or provide
maintenance to, a distributed ledger, or a service associated
with a distributed ledger.
(2) Digital asset.--The term ``digital asset'' means any
digital representation of value which is recorded on a
cryptographically secured distributed ledger.
(3) Distributed ledger.--The term ``distributed ledger''
means technology in which data is shared across a network
that--
(A) creates a public digital ledger of verified
transactions or information among network participants;
and
(B) uses cryptography to link the data to maintain
the integrity of the public ledger and execute other
functions.
(4) Distributed ledger service.--The term ``distributed
ledger service'' means any information, transaction, or
computing service or system that provides or enables access to
a distributed ledger system by multiple users, including a
service or system that enables users to send, receive,
exchange, or store digital assets described by distributed
ledger systems.
(5) Non-controlling developer or provider.--The term ``non-
controlling developer or provider'' means a developer or
provider of a distributed ledger service that, in the regular
course of operations, does not have the legal right or the
unilateral and independent ability to control, initiate upon
demand, or effectuate transactions involving digital assets to
which users are entitled, without the approval, consent, or
direction of any other third party.
(b) Treatment.--Notwithstanding any other provision of law, a non-
controlling developer or provider--
(1) shall not be treated as--
(A) a money transmitting business, as defined in
section 5330 of title 31, United States Code, and the
regulations promulgated under that section; or
(B) engaged in money transmitting, as defined in
section 1960 of title 18, United States Code, as
amended by this Act; and
(2) on or after the date of enactment of this Act, shall
not be otherwise subject to any registration requirement that
is substantially similar to a requirement (as in effect on the
day before the date of enactment of this Act) that applies to
an entity described in subparagraph (A) or (B) of paragraph
(1), solely on the basis of--
(A) creating or publishing software to facilitate
the creation of, or providing maintenance services to,
a distributed ledger or a service associated with a
distributed ledger;
(B) providing hardware or software to facilitate a
customer's own custody or safekeeping of the digital
assets of the customer; or
(C) providing infrastructure support to maintain a
distributed ledger service.
(c) Rules of Construction.--Nothing in this section may be
construed--
(1) to affect whether a developer or provider of a
blockchain service is otherwise subject to classification or
treatment as a money transmitter, or as engaged in money
transmitting, under applicable Federal or State law, including
laws relating to anti-money laundering or countering the
financing of terrorism, based on conduct outside the scope of
subsection (b);
(2) to affect whether a developer or provider is otherwise
subject to classification or treatment as a financial
institution under subchapter II of chapter 53 of title 31,
United States Code, this Act, any amendment made by this Act,
or any Act enacted after the date of enactment of this Act;
(3) to limit or expand any law pertaining to intellectual
property;
(4) to prevent any State from enforcing any State law that
is consistent with this section; or
(5) to create a cause of action or impose liability under
any State or local law that is inconsistent with this section.
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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