Senator Wyden urges inclusion of BRCA in Clarity Act
Sen. Ron Wyden asked Senate leaders to retain Section 604, the Blockchain Regulatory Certainty Act (BRCA), inside the larger Clarity Act. The provision would create a safe harbor that says software developers who do not hold or control customer funds should not count as money transmitters, a change first proposed in a separate bill by Sen. Cynthia Lummis. Industry groups back the provision for legal clarity and to keep innovation domestic, while coalitions representing more than 70,000 prosecutors, police, and a Catholic anti‑trafficking network warn broad exemptions could hinder anti‑money‑laundering and trafficking enforcement. Lawmakers must resolve the dispute before August recess and November elections.
Section 604 would create a safe harbor for noncustodial developers.
Context
BRCA began as its own bill and was folded into the Clarity Act. Law enforcement groups and a trafficking alliance asked leaders to rework or remove Section 604. Senators may decide before August recess and the November elections.
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