Senator Lummis: CLARITY Act Offers Strongest DeFi Developer Protections

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On March 28, U.S. Senator Cynthia Lummis stated that the latest amendments to the CLARITY Act will provide protections for DeFi and its developers. She refuted concerns raised by crypto lawyer Jake Chervinsky regarding the potential inclusion of non-custodial developers as money transmitters subject to KYC obligations, asserting that relevant provisions have been adjusted during bipartisan negotiations. The bill is expected to enter the Senate Banking Committee’s review phase in April.

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