IB 
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 non- 
controlling 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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A BILL 
To provide a safe harbor from licensing and registration 
for certain non-controlling blockchain developers and pro-
viders of blockchain services. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Blockchain Regulatory 
Certainty Act’’. 
SEC. 
2. 
SAFE 
HARBOR 
FOR 
NON-CONTROLLING 
BLOCKCHAIN DEVELOPERS AND PROVIDERS 
OF BLOCKCHAIN SERVICES. 
(a) 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 (as defined under State licensing 
laws), a financial institution (as defined under section 5312 
of title 31, United States Code), or any other State or Fed-
eral legal designation requiring licensing or registration as 
a condition to acting as a blockchain developer or provider 
of a blockchain service, unless the developer or provider has, 
in the regular course of business, control over digital assets 
to which a user is entitled under the blockchain service or 
the software created, maintained, or disseminated by the 
blockchain developer. 
(b) EFFECT ON OTHER LAWS.— 
(1) INTELLECTUAL PROPERTY LAW.—Nothing in 
this section shall be construed to limit or expand any 
law pertaining to intellectual property. 
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(2) STATE LAW.—Nothing in this section shall be 
construed to prevent any State from enforcing any 
State law that is consistent with this section. No 
cause of action may be brought and no liability may 
be imposed under any State or local law that is in-
consistent with this section. 
(c) DEFINITIONS.—As used in this section: 
(1) 
BLOCKCHAIN
DEVELOPER.—The 
term 
‘‘blockchain developer’’ means any person or business 
that creates, maintains, or disseminates software fa-
cilitating the creation or maintenance of a blockchain 
network or a blockchain service. 
(2) 
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 par-
ticipate in the consensus-making process without the 
need to license proprietary software or obtain permis-
sion from any other user. The term ‘‘blockchain net-
work’’ includes, specifically, a public network of com-
puters that cooperates to reach consensus over the 
state of a distributed ledger describing transactions in 
a digital asset. 
(3) 
BLOCKCHAIN
SERVICE.—The 
term 
‘‘blockchain service’’ means any information, trans-
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action, or computing service or system that provides 
or enables access to a blockchain network by multiple 
users, including specifically a service or system that 
enables users to send, receive, exchange, or store dig-
ital assets described by blockchain networks. 
(4) CONTROL.—The term ‘‘control’’ means the 
legal right, authority, or ability to obtain upon de-
mand data sufficient to initiate transactions spend-
ing an amount of digital assets. 
(5) 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 inter-
mediary. 
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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 reg-
istration for certain non-controlling blockchain 
developers and providers of blockchain services. 
MAY 6, 2024 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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