CLARITY Act Revisions Aim to Strengthen Legal Protections for DeFi Developers

Cynthia Lummis announced that the latest revisions to the CLARITY Act are designed to offer enhanced legal protection for developers in the decentralized finance (DeFi) sector and those working on non-custodial software. According to NS3.AI, these changes aim to address some of the legal uncertainties faced by developers in these areas. However, Jake Chervinsky noted that the language concerning money transmission still requires further clarification. The revised bill is anticipated to be reviewed by the Senate Banking Committee in April.