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U.S. Senator: The CLARITY Act will provide stronger protections for DeFi developers
Odaily Planet Daily reported that U.S. Senator Cynthia Lummis stated that the latest revision of the CLARITY Act will provide “the strongest protections” for DeFi and developers. This response came to crypto lawyer Jake Chervinsky’s concerns about the developer liability provisions in the draft, saying that both parties have made adjustments to strengthen legal protections for non-custodial software developers.
However, Chervinsky pointed out that the current draft’s definition of fund transfers may still expose some DeFi developers to liability risks, as the relevant provisions have not been completely clarified. Reports indicate that the latest revised version of the bill has not been made public yet, and it is expected to advance to the Senate Banking Committee for review in April. (Cointelegraph)