Wu learned that crypto journalist Eleanor Terrett disclosed that U.S. Senator Ron Wyden sent a letter to Senate leadership requesting that the Blockchain Regulatory Certainty Act (BRCA) provisions passed by the Senate Banking Committee be retained in the CLARITY Act submitted for Senate consideration. The provisions aim to codify current federal policy into law, clarifying that non-custodial software developers will not be deemed money transmitters merely for publishing software, while preserving the authority of the DOJ and FinCEN to pursue entities that violate the law. At present, it remains uncertain whether the relevant enforcement agencies will accept the BRCA provisions and whether adjustments need to be made to win support from more Democratic senators.

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