US senators say the CLARITY Act will provide stronger legal protections for DeFi developers.
Lummis: CLARITY Act Now Offers 'Strongest Protections' for DeFi Developers
Senator Cynthia Lummis is touting the latest version of the CLARITY Act. She says it offers the "strongest protections" yet for DeFi and its developers.
The comments came in response to concerns raised by crypto lawyer Jake Chervinsky about developer liability in earlier drafts. Lummis said bipartisan adjustments have been made to strengthen legal safeguards for non-custodial software developers.
Chervinsky, however, still sees some risk. He pointed out that the current draft's definition of "money transmission" could still expose some DeFi developers to liability. That language hasn't been fully clarified yet. The latest version of the bill hasn't been made public, but it's expected to move to the Senate Banking Committee for consideration in April.
|
DISCLAIMER:
1. All content on this website (including but not limited to articles, data, charts, and analyses) is for general informational purposes only and does not constitute any form of investment advice, trading recommendation, or financial guidance. 2. Cryptocurrencies and digital assets are subject to extreme price volatility and high investment risk; you may lose part or all of your principal. Past performance does not predict future results. 3. The information on this website is based on sources we believe to be reliable, but we do not guarantee its accuracy, completeness, or timeliness. Any investment decisions made based on this website’s information are at your own risk. 4. We strongly recommend that you conduct your own thorough research and consult an independent, licensed financial advisor before making any investment decisions. |
Recommended reading
Latest News
