The CLARITY Act cleared the House and is moving toward Senate markup scheduled for January. This legislation takes a protective stance on DeFi infrastructure—specifically shielding core components like blockchain nodes, user interfaces, non-custodial wallets, and liquidity pools from being classified as financial intermediaries subject to traditional banking regulations. The bill also aims to preempt conflicting state-level oversight of digital commodities.

However, several critical gaps remain unresolved. The boundaries between what qualifies as a compliant UI versus an intermediary service are still murky. With a 360-day rulemaking window ahead, industry participants are bracing for detailed guidance that could significantly reshape how DeFi protocols operate and what compliance obligations builders face going forward.