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Union Calendar No. 403 

118TH CONGRESS 

2D SESSION H. R. 1747 

[Report No. 118–486] 

To provide a safe harbor from licensing and registration for certain noncontrolling blockchain developers and providers of blockchain services. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 23, 2023 

Mr. EMMER (for himself and Mr. SOTO) introduced the following bill; which 

was referred to the Committee on Financial Services 

MAY 6, 2024 

Reported with an amendment, committed to the Committee of the Whole 

House on the State of the Union, and ordered to be printed 

[Strike out all after the enacting clause and insert the part printed in italic] 

[For text of introduced bill, see copy of bill as introduced on March 23, 2023] 


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•HR 1747 RH

A BILL 

To provide a safe harbor from licensing and registration 

for certain non-controlling blockchain developers and providers of blockchain services. 


ssavage on LAPJG3WLY3PROD with BILLS
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•HR 1747 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Blockchain Regulatory 

5 Certainty Act’’. 

6 SEC. 2. SAFE HARBOR FOR NON-CONTROLLING 

7 BLOCKCHAIN DEVELOPERS AND PROVIDERS 

8 OF BLOCKCHAIN SERVICES. 

9 (a) PROTECTION FOR NON-CONTROLLING BLOCKCHAIN

10 SERVICES AND SOFTWARE DEVELOPERS.—No blockchain 

11 developer or provider of a blockchain service shall be treated 

12 as a money transmitter (as defined under State licensing 

13 laws), a financial institution (as defined under section 5312 

14 of title 31, United States Code), or any other State or Fed15 eral legal designation requiring licensing or registration as 

16 a condition to acting as a blockchain developer or provider 

17 of a blockchain service, unless the developer or provider has, 

18 in the regular course of business, control over digital assets 

19 to which a user is entitled under the blockchain service or 

20 the software created, maintained, or disseminated by the 

21 blockchain developer. 

22 (b) EFFECT ON OTHER LAWS.— 

23 (1) INTELLECTUAL PROPERTY LAW.—Nothing in 

24 this section shall be construed to limit or expand any 

25 law pertaining to intellectual property. 


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1 (2) STATE LAW.—Nothing in this section shall be 

2 construed to prevent any State from enforcing any 

3 State law that is consistent with this section. No 

4 cause of action may be brought and no liability may 

5 be imposed under any State or local law that is in6 consistent with this section. 

7 (c) DEFINITIONS.—As used in this section: 

8 (1) BLOCKCHAIN DEVELOPER.—The term 

9 ‘‘blockchain developer’’ means any person or business 

10 that creates, maintains, or disseminates software fa11 cilitating the creation or maintenance of a blockchain 

12 network or a blockchain service. 

13 (2) BLOCKCHAIN NETWORK.—The term 

14 ‘‘blockchain network’’ means any system of networked 

15 computers that cooperates to reach consensus over the 

16 state of a computer program and allows users to par17 ticipate in the consensus-making process without the 

18 need to license proprietary software or obtain permis19 sion from any other user. The term ‘‘blockchain net20 work’’ includes, specifically, a public network of com21 puters that cooperates to reach consensus over the 

22 state of a distributed ledger describing transactions in 

23 a digital asset. 

24 (3) BLOCKCHAIN SERVICE.—The term 

25 ‘‘blockchain service’’ means any information, transVerDate Sep 11 2014 00:47 May 07, 2024 Jkt 049200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6203 E:\BILLS\H1747.RH H1747

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1 action, or computing service or system that provides 

2 or enables access to a blockchain network by multiple 

3 users, including specifically a service or system that 

4 enables users to send, receive, exchange, or store dig5 ital assets described by blockchain networks. 

6 (4) CONTROL.—The term ‘‘control’’ means the 

7 legal right, authority, or ability to obtain upon de8 mand data sufficient to initiate transactions spend9 ing an amount of digital assets. 

10 (5) DIGITAL ASSET.—The term ‘‘digital asset’’ 

11 means any form of intangible personal property that 

12 can be exclusively possessed and transferred person to 

13 person without necessary reliance on an inter14 mediary. 


ssavage on LAPJG3WLY3PROD with BILLS
Union Calendar No. 403 

118TH CONGRESS 

2D SESSION H. R. 1747 

[Report No. 118–486] 

A BILL 

To provide a safe harbor from licensing and regdevelopers and providers of blockchain services. istration for certain non-controlling blockchain 

MAY 6, 2024 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


ssavage on LAPJG3WLY3PROD with BILLS