Crypto Leaders Push for Senate Vote on Blockchain Protection Bill

More than sixty top crypto CEOs and founders, representing companies such as Coinbase, a16z Crypto, Uniswap, Solana Labs, Kraken, and Ledger, sent a letter to Senate leaders on June 9. They urged the full Senate to approve H.R. 3633—the Digital Asset Market Clarity Act—while preserving protections for blockchain developers.

Why the BRCA Matters

Section 604 of the bill, known as the Blockchain Regulatory Certainty Act (BRCA), shields non‑custodial software developers from:
Bank Secrecy Act duties
Federal money‑transmission charges

Without the BRCA, signatories argue that the Act would lack the legal certainty needed for U.S. blockchain innovation.

Legislative Journey

Stage	Status
House Pass (July 2025)	294‑134 bipartisan majority
Senate Stalls	Twice; Coinbase withdrew support over a proposed ban on stable‑coin rewards
Senate Banking Committee (May 2026)	15‑9 vote, two Democrats joined Republicans
Senate Calendar (June 1)	60‑75% chance of becoming law this year
Presidential Signature	Possible early August
Senator Cynthia Lummis	Warned celebration should wait until passage

Key Provisions Beyond the BRCA

Section 601 – Exempts developers from SEC registration
Section 207 of the Digital Commodity Intermediaries Act – Offers similar relief under commodity law

Current Challenges

Committee Versions: Senate Banking and Agriculture Committees must merge before a floor vote
Filibuster: 60 votes required to advance
Reconciliation: House and Senate texts must align before reaching the President

Perspectives from Advocacy Groups

DeFi Education Fund & Coin Center: View the BRCA as essential; without it, developers risk prosecution for creating permissionless software.
Senator Elizabeth Warren (and some Democrats): Believe anti‑money‑laundering provisions are still too weak.

Bottom Line

The crypto community’s united front highlights the urgency of clear, developer‑friendly regulation. The upcoming Senate floor vote will determine whether this critical piece of legislation moves forward.