Ron Wyden: CLARITY Act Should Preserve Legal Protections for Non-Custodial Blockchain Developers

Odaily Odaily Planet Daily News, U.S. Senator Ron Wyden has sent a letter to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer, urging that any version of the "Digital Asset Market Clarity Act" considered by the Senate should retain Section 604 to protect non-custodial blockchain developers who do not control user assets. Ron Wyden stated that developers who merely create or publish software allowing users to manage their own digital assets should not be considered money transmitters. Coin Center Executive Director Peter Van Valkenburgh, the DeFi Education Fund, and Galaxy Digital Research Head Alex Thorn have expressed support for this position. Alex Thorn also noted that supporting developer protections does not mean Ron Wyden will support the entire CLARITY Act. Ron Wyden further stated that the provision does not protect developers involved in illegal activities and can direct enforcement resources toward criminals and unlicensed money transmission businesses, rather than neutral software developers. (Bitcoin.com News)