Promoting Innovation in Blockchain Development Act
Feb 26, 2026
Very Pro Crypto
This legislation amends the federal criminal statute governing unlicensed money transmitting businesses to require that an entity must actually exercise control over funds to face prosecution. By narrowing the definition of money transmission to custodial activities, the bill exempts non-custodial blockchain developers, self-custody wallet providers, node operators, and decentralized finance protocols from criminal liability for unlicensed money transmission, protecting fundamental software innovation.
Current Status
This bill is currently in the legislative process and has not yet been passed into law.Analysis
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Votes
For
Against
Total
0
0
(D)
0
0
(R)
0
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Sponsor
A
Scott Fitzgerald(R) Congressperson
Cosponsors (9)
A
Warren Davidson(R) Congressperson
A
Mike Carey(R) Congressperson
A
Zoe Lofgren(D) Congressperson
A
Shri Thanedar(D) Congressperson
A
Ben Cline(R) Congressperson
Voted For (0)
No votesVoted Against (0)
No votes