Chalom: BRCA Could Decide US DeFi Competitiveness

Joseph Chalom, CEO of Sharplink and former Head of Digital Assets Strategy at BlackRock, argued that Section 604's Blockchain Regulatory Certainty Act (BRCA) could be the most consequential part of the CLARITY Act.

Chalom said BRCA would provide legal clarity for developers building non-custodial blockchain applications by establishing that software creators who do not control user funds should not be treated as money transmitters.

This principle is essential for protecting permissionless, non-custodial financial infrastructure built on blockchain networks.