US Legislators Propose Amendment to Cryptocurrency Market Structure Bill

BlockBeats News, June 10th, according to Cointelegraph's report, members of the U.S. House of Representatives Financial Services Committee are expected to hold a markup hearing on Tuesday to discuss a cryptocurrency market structure bill, which may be amended to include additional protections for blockchain developers.

According to a pre-hearing notice, Committee Chair French Hill proposed an amendment to the 2025 "Digital Asset Market Structure Clarity Act" (aka the CLARITY Act). The amendment suggests that under this potential market structure law, certain blockchain developers or service providers would not be considered money transmitters and would not be subject to their registration requirements.

This provision regarding blockchain developers appears to stem from the "Blockchain Regulatory Certainty Act" pushed in May by Congressman Tom Emmer and a bipartisan group of legislators. Many industry advocacy groups, including the Blockchain Association, have called on lawmakers to merge these two bills.