US HB3533

Blockchain developers and service providers who do not have control over users' digital assets are exempt from being classified as money transmitters, financial institutions, or other designations requiring state or federal licensing and registration

"Control" is defined as having unilateral, independent legal authority to initiate transactions spending digital assets without requiring approval from any third party

The safe harbor applies to those who create, maintain, or disseminate software for blockchain networks or services that enable users to send, receive, exchange, or store digital assets

State laws consistent with the Act may still be enforced, but states cannot impose liability under laws that conflict with these protections

Intellectual property laws remain unaffected by the legislation