Tom Emmer reintroduces regulatory clarity in cryptotech bill

On May 21, Congressman Tom Emmer reintroduced the Blockchain Regulatory Certification Act (BRCA) with Congressman Ritchie Torres.

The core principle of the bill states that crypto developers and service providers should not be classified as currency transmitters under current regulations if they do not comply with the custody of consumer funds.

The clarification aims to provide legal certainty for blockchain developers, miners, validators and crypto wallet providers, who have established non-custody services.

Clarity for developers, miners and validators

The legislation addresses concerns that unclear regulations push U.S. crypto innovation overseas.

Both members of Congress stressed that the bill protected innovation while maintaining proper oversight and that when similar language was rejected in the committee, they refine the framework based on previous feedback.

“The longer we delay this common sense clarification, the greater the risk of bringing this transformative technology overseas, the more harm the risk of harming U.S. investors and innovators,” Emmer said.

“If we want to retain the next generation of builders, this legal clarity is crucial,” Torres said.

Several industry organizations have endorsed the reintroduction, including the Coin Center, Defi Education Fund, Blockchain Association, Solana Policy Institute and Crypto Innovation Committee.

Emmer initially introduced the bill in 2018, and the current version represents an ongoing effort to establish regulatory clarity.

Texas Bitcoin Reserve Passed

In related news, the Texas Strategic Bitcoin Preparation Act (SB 21) passed the third reading with a 101-42 vote and now heads to the governor’s desk for signature.

The bill defines reserves as investment vehicles, allowing the state to actively purchase, sell and manage high-market cap cryptocurrency assets for financial security and economic resilience.

Just in: Texas passes strategic Bitcoin reserve bill

SB 21 passed the third reading by vote of 101-42 and now heads to the governor’s desk for signature. pic.twitter.com/fmejsi2kio

– Bitcoin Laws (@bitcoin_laws) May 21, 2025

In addition, four new cryptocurrency-related bills were introduced in Michigan on May 21, under Bitcoin law. They recommend allowing state pension funds to invest in cryptocurrencies, ban central bank digital currencies, and allowing Bitcoin mining of abandoned oil and gas wells.

Arizona and New Hampshire are the only two states that have set crypto-stock bills.

According to SBR Monitor, strategic bitcoin reserves are being considered in 18 states, in one state, and rejected in five states.