Certain blockchain software creators would not be treated as money transmitters.
This bill would make it clear that some businesses that create or maintain blockchain software would not be considered "money transmitting businesses." This change would reduce their regulatory burden and legal uncertainty. It would apply to companies that build the technology but don't control users' digital assets.
Today, businesses that create or maintain blockchain software might be seen as "money transmitting businesses" and face strict federal and state regulations, including registration. After this bill, certain "non-controlling" blockchain software developers would explicitly not be treated as money transmitting businesses. They also would not be subject to similar registration requirements, solely for their software development or infrastructure support activities.
S 3611 · 119th Congress · January 12, 2026 · AI Summary by gemini-2.5-flash · 9/10
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7 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.