Cryptocurrency Reporter: Senator Calls on Senate Leadership to Retain BRCA Provisions in the Clarity Act
Svmuu News: A Fox Business crypto reporter posted on X that Senator Ron Wyden has called on Senate leaders to retain the Blockchain Regulatory Certainty Act—which has already been passed by the Senate Banking Committee—in any version of the Clarity Act submitted for consideration by the full Senate. This request comes amid uncertainty regarding whether certain key law enforcement groups will accept the BRCA’s language and whether amendments are needed to secure their support and the votes of other Democratic senators, such as Cortez Masto and Mark Warner. In a letter to Thune and Schumer, Wyden stated that the provision would codify existing federal policy, clarifying that non-custodial software developers should not be considered money transmitters solely for releasing software, while preserving the DOJ and FinCEN’s ability to pursue illegal actors. Wyden is a Democratic co-sponsor of the Senate’s standalone BRCA bill; Sen. Lummis is the other co-sponsor.
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