This bill aims to provide regulatory clarity for developers and providers of distributed ledger services, often associated with blockchain technology and digital assets. It specifically defines a "non-controlling developer or provider" as an entity that creates or maintains blockchain software but lacks the unilateral ability to control, initiate, or effectuate transactions involving users' digital assets without their explicit approval or consent. The core purpose is to exempt these specific entities from being classified as money transmitting businesses under federal law. Under this legislation, such non-controlling developers will not be treated as a money transmitting business as defined in 31 U.S.C. 5330 or engaged in money transmitting under 18 U.S.C. 1960. This exemption applies to activities like creating or publishing software, providing hardware or software for customer self-custody of digital assets, or offering infrastructure support for distributed ledger services. The bill clarifies that it does not affect other anti-money laundering or counter-terrorism financing laws, nor does it prevent states from enforcing consistent regulations.