Promoting Innovation in Blockchain Development Act

This bill changes a federal criminal law, section 1960 of title 18 of the U.S. Code, which makes it a crime to run an unlicensed money transmitting business. Under the change, a person could be charged under this law only if the person also exercises control over currency, funds, or other value that substitutes for currency. The bill adds this condition to the existing wording, which begins "Whoever knowingly." The bill's title refers to blockchain development, but the text itself does not mention blockchain or digital currency.

Full text and official record on Congress.gov

Sponsors

• Scott Fitzgerald Republican sponsor
• 22 cosponsors