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U.S. Senator: The CLARITY Act will provide stronger protections for DeFi developers
Odaily Planet Daily News reports that U.S. Senator Cynthia Lummis stated that the latest revisions to the CLARITY Act will provide “the strongest protections” for DeFi and developers. This response addresses concerns from crypto lawyer Jake Chervinsky regarding the developer liability provisions in the draft, noting that bipartisan adjustments have been made to strengthen legal protections for non-custodial software developers.
However, Chervinsky pointed out that the current draft’s definition of funds transmission could still expose some DeFi developers to liability risks, as the relevant provisions have not been fully clarified. Reports indicate that the latest revised version of the bill has not yet been made public and is expected to advance to the Senate Banking Committee for review in April. (Cointelegraph)