Call for Legislative Action
In a significant move, a coalition of eight prominent cryptocurrency policy groups is preparing to issue a collective statement urging Congress to integrate the Blockchain Regulatory Certainty Act (BRCA) into the ongoing discussions surrounding the CLARITY Act. This initiative includes notable contributors such as Uniswap and Jump Crypto, highlighting the industry’s commitment to regulatory clarity.
Key Organizations Involved
The organizations involved are well-respected within the crypto space, featuring:
- DeFi Education Fund
- Coin Center
- Solana Policy Institute
- Digital Chamber
- Blockchain Association
- Crypto Council for Innovation
- Bitcoin Policy Institute
- Paradigm
Purpose of the Blockchain Regulatory Certainty Act
The proposed BRCA aims to offer essential protections for software developers and infrastructure providers who do not handle customer funds directly, thereby supporting the decentralized finance (DeFi) ecosystem. Initially introduced by Representative Tom Emmer, the act has gained traction with bipartisan backing, including support highlighted by Representative Ritchie Torres.
Importance of BRCA for the DeFi Ecosystem
Advocates within the industry regard this amendment as a fundamental protective measure to ensure the growth and safety of DeFi development. As lawmakers prepare to deliberate the provisions of the CLARITY Act—legislation designed to outline the digital asset market framework—the joint statement will emphasize the critical nature of incorporating the BRCA into this legislative effort.
