Crypto Groups Back BRCA in CLARITY Act Push
Eight crypto associations, Uniswap, and Jump support the BRCA for legal clarity in non-custodial development.
- Industry groups unite to support Blockchain Regulatory Certainty Act
- The goal is to clarify rules for non-custodial crypto developers
- Proposal aligns with FinCEN’s 2019 wallet guidance
Industry Pushes for Legal Clarity in Crypto Development
In a major step towards regulatory transparency, eight leading U.S. crypto industry associations have joined forces with DeFi giant Uniswap and trading firm Jump to back the inclusion of the Blockchain Regulatory Certainty Act (BRCA) in the updated CLARITY Act. The collective will issue a joint statement supporting this legislative move, signaling a strong show of unity across the crypto ecosystem.
This alliance underscores the industry’s increasing desire for clearer legal frameworks—especially around non-custodial crypto services, which allow users to maintain full control over their funds without relying on centralized intermediaries.
What the BRCA Means for Developers
The BRCA, introduced by the U.S. House of Representatives, is designed to offer much-needed regulatory clarity for developers and entities building non-custodial blockchain tools. It specifically aims to address whether such developers should be treated as money transmitters under U.S. law.
A key part of the act is to codify the Financial Crimes Enforcement Network’s (FinCEN) 2019 guidance, which clarified that unhosted wallet developers and non-custodial service providers are not subject to the same regulations as custodial exchanges. If adopted into law, the BRCA would reduce legal uncertainty and help foster innovation in decentralized finance (DeFi) and other blockchain sectors.
Why This Matters Now
The timing of this joint support is strategic. With crypto regulation at the forefront of political debates and the 2024 U.S. election cycle adding urgency to crypto policy development, the industry sees this as a pivotal moment to shape the regulatory landscape.
Backers argue that without clear legal guidelines, U.S. innovation risks falling behind due to the regulatory ambiguity that often pushes developers abroad. By pushing for the BRCA’s inclusion in the CLARITY Act, the coalition is making a strong case for a future where American developers can innovate without fear of regulatory backlash.
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