U.S. Senator: The CLARITY Act Will Provide Stronger Protection for DeFi Developers

Odaily News U.S. Senator Cynthia Lummis stated that the CLARITY Act, after its latest revisions, will provide "the strongest protection" for DeFi and developers. She responded to concerns raised by crypto lawyer Jake Chervinsky regarding the developer liability clauses in the draft, indicating that bipartisan adjustments have been made to the relevant content to strengthen legal safeguards for non-custodial software developers.

However, Chervinsky pointed out that the current draft's definition of money transmission could still expose some DeFi developers to liability risks, as the related clauses are not yet fully clarified. Reports indicate that the latest revised version of the bill has not been made public and is expected to advance to the Senate Banking Committee for review in April. (Cointelegraph)