Non-custodial developers finally won't have to take the blame? If the BRCA clause can truly be implemented, it would be a major positive for the open-source community, but the fact that DOJ and FinCEN retain prosecution rights is worth examining carefully.

Wu Shuo has learned that crypto journalist Eleanor Terrett disclosed that U.S. Senator Ron Wyden has sent a letter to Senate leadership, requesting that the Blockchain Regulatory Certainty Act (BRCA) clause, which was passed by the Senate Banking Committee, be retained in the CLARITY Act submitted for Senate consideration. The clause 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 DOJ and FinCEN to pursue entities that violate the law. Currently, there remains uncertainty as to whether relevant law enforcement agencies will accept the BRCA clause, and whether adjustments are needed to secure more support from Democratic senators.