,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #cecc  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ba1 #bjbe,mr4  
,emmer 7for himself and ,mr4 ,torres of 
,new ,york7 introduced the following    
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to provide a safe harbor from  
licensing and registration for certain  
non-controlling blockchain developers   
and providers of blockchain services4   
#a4 ,short title ,this ,act may be cited
 as the ,blockchain ,regulatory         
,certainty ,act4  #b4 ,safe harbor for  
non-controlling blockchain developers   
and providers of blockchain services    
7a7 ,protection for non-,controlling    
blockchain services and software        
developers ,no blockchain developer or  
provider of a blockchain service shall  
be treated as a money transmitter or as 
engaging in money transmitting 7as      
defined under any ,state or ,federal    
law71 a financial institution 7as       
defined under section #ecab of title    

#ca1 ,united ,states ,code71 any other  
,state or ,federal legal designation    
requiring licensing or registration1 or 
triggering liability for unlicensed or  
unregistered conduct1 unless the        
developer or provider has1 in the       
regular course of business1 control over
 digital assets to which a user is      
entitled under the blockchain service or
 the software created1 maintained1 or   
disseminated by the blockchain developer
 or provider4  7b7 ,effect on other laws
  7#a7 ,intellectual property law       
,nothing in this section shall be       
construed to limit or expand any law    
pertaining to intellectual property4    
7#b7 ,state law ,nothing in this section
 shall be construed to prevent any      
,state from enforcing any ,state law    
that is consistent with this section4   
,no cause of action may be brought and  
no liability may be imposed under any   
,state or local law that is inconsistent
 with this section4  7c7 ,definitions   
,as used in this section3 7#a7          

,blockchain developer ,the term         
blockchain developer means any person or
 business that creates1 maintains1 or   
disseminates software facilitating the  
creation or maintenance of a blockchain 
network or a blockchain service4  7#b7  
,blockchain network ,the term blockchain
 network means any system of networked  
computers that cooperates to reach      
consensus over the state of a computer  
program and allows users to participate 
in the consensus-making process without 
the need to license proprietary software
 or obtain permission from any other    
user4 ,the term blockchain network      
includes1 specifically1 a public network
 of computers that cooperates to reach  
consensus over the state of a           
distributed ledger describing           
transactions in a digital asset4  7#c7  
,blockchain service ,the term blockchain
 service means any information1         
transaction1 or computing service or    
system that provides or enables access  
to a blockchain network by multiple     

users1 including specifically a service 
or system that enables users to send1   
receive1 exchange1 or store digital     
assets described by blockchain networks4
  7#d7 ,control ,the term control means 
the unilateral and independent legal    
right1 authority1 or ability to obtain  
upon demand data sufficient to initiate 
transactions spending an amount of      
digital assets1 without requiring the   
approval1 consent1 or direction of any  
other third party4  7#e7 ,digital asset 
,the term digital asset means any form  
of intangible personal property that can
 be exclusively possessed and           
transferred person to person without    
necessary reliance on an intermediary4