Wyden's move this time protects developers from being arbitrarily classified as money transmitters, essentially opening a loophole for non-custodial software. However, DOJ and FinCEN still retain enforcement powers. How the game plays out next depends on whether Democrats can unite internally.

CoinWorld reported that crypto journalist Eleanor Terrett disclosed that U.S. Senator Ron Wyden has sent a letter to Senate leadership, urging that the Clarity Act submitted for Senate consideration retain the blockchain regulatory certainty provisions (BRCA) passed by the Senate Banking Committee. The provision seeks to codify existing federal policy into law, clarifying that non-custodial software developers will not be deemed money transmitters solely for publishing software, while preserving the authority of the DOJ and FinCEN to pursue entities that violate the law. At present, uncertainty remains over whether relevant enforcement agencies will accept the BRCA provisions and whether adjustments are needed to secure support from more Democratic senators.