Rep. Emmer defends bill to exempt DeFi developers from money transmitter regulations

U.S. House Majority Whip Tom Emmer has dismissed concerns from law enforcement regarding protections for crypto developers as a distraction. In an interview with CoinDesk, Emmer strongly advocated for the Blockchain Regulatory Certainty Act (BRCA), which would exempt non-custodial DeFi software developers from being regulated as money transmitters. He argued that it is unfair to regulate developers who do not directly hold user funds and that varying state-by-state regulations are stifling innovation. Emmer emphasized that the Clarity Act, which has already passed the Senate Banking Committee with bipartisan support, will enhance the global competitiveness of the U.S. digital asset market. He added that the goal should be a 'light-touch' regulatory approach that limits the authority of regulatory agencies, predicting the legislation will soon pass Congress and receive President Donald Trump's signature.