Crypto trading platforms Uniswap, Jump, and major trade associations prepare to endorse the Blockchain Regulatory Certainty Act – according to reports.
Crypto majority backs Blockchain Regulatory Certainty Act
Hear ye, hear ye! Leading crypto players are joining forces to support a bill that aims to provide regulatory clarity for developers in the non-custodial crypto ecosystem.
UniSwap, Jump Trading, and eight other major crypto organizations are announcing their joint support for the Blockchain Regulatory Certainty Act (BRCA), according to crypto reporter Eleanor Terrett. The announcement is supposedly "imminent."
"Breaking: A joint statement is coming soon from eight leading crypto trade associations, along with UniSwap and Jump, expressing their support for the Blockchain Regulatory Certainty Act (BRCA) being included in the latest version of the CLARITY Act."
The BRCA is designed to offer clarity and security to developers, miners, and other innovators in the decentralized finance (DeFi) realm. However, it draws a line between these open-source developers and traditional financial institutions, protecting them from excessive regulations that could stifle innovation.
The eight groups behind this statement include the DeFi Education Fund, Coin Center, Solana Institute, Chamber of Digital Commerce, Blockchain Association, Crypto Council, Bitcoin Policy Institute, and Paradigm. These organizations argue that the legislation is crucial for safeguarding software developers and providers who don't custody customer funds.
One policy leader told Terrett, "It's critically important that we don't treat open-source developers like traditional financial institutions. The BRCA draws that line clearly and protects innovation."
These groups urge lawmakers to include the BRCA in the CLARITY Act, a digital asset market structure bill that's expected to be marked up next week. As of now, no official statement has been made public.
Stay tuned for further updates on this industry game-changer!
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"The joint statement from eight leading crypto trade associations, alongside UniSwap and Jump, will soon express their support for the inclusion of the Blockchain Regulatory Certainty Act (BRCA) in the latest version of the CLARITY Act."
"Other cryptocurrency organizations, like Coin Center and Bitcoin Policy Institute, argue that the BRCA is crucial for safeguarding software developers and providers who do not custody customer funds."
"The BRCA aims to offer regulatory clarity and security for developers, miners, and innovators in the decentralized finance (DeFi) sector, while distinguishing them from traditional financial institutions."
