Articles
Crypto Market Analysis

Lummis says CLARITY Act will deliver 'strongest' developer protections

User Image

匿名により

作成されました March 28, 2026|2 分で読めます
Main Image

Crypto lawyer Jake Chervinsky said legislation covering crypto developer protections has been overshadowed by the intense focus on stablecoin yield in the CLARITY Act.

US Senator Cynthia Lummis has dismissed claims that the Digital Asset Market Clarity Act fails to protect decentralized finance innovators from legal repercussions, rebutting that recent changes to the draft will make it the “strongest protection for DeFi and developers ever enacted.”

Her comments on Friday came in direct response to crypto lawyer Jake Chervinsky, who argued that Title 3 of the current draft undermines the Blockchain Regulatory Certainty Act — another crypto bill focused on developer protections — by subjecting non-custodial software developers to know-your-customer obligations.

“Don’t believe the FUD,” Lummis said, adding, “We have worked on a bipartisan basis for the last few weeks to make changes to Title 3 that make this bill the strongest protection for DeFi and developers ever enacted. We have to pass the Clarity Act to get these protections.”

The latest changes to the CLARITY Act have not been publicly released. 

Chervinsky said these DeFi protection provisions have been overshadowed by intense focus on stablecoin rewards provisions in the CLARITY Act.

His biggest issue with the Senate Banking Committee’s latest CLARITY Act draft is that Title 3's money transmitter definitions could still expose many non-custodial DeFi builders to liability.

This is despite the CLARITY Act incorporating the BRCA in section 604, which clarifies that non-controlling developers and providers of non-custodial software are not to be treated as financial institutions subject to Bank Secrecy Act KYC obligations.

“The biggest challenge is ensuring non-custodial software developers aren't misclassified as money transmitters,” Chervinsky argued.

His concerns come amid several high-profile prosecutions and convictions of developers in the US in recent months, including Tornado Cash co-founder, Roman Storm, who was convicted in August 2025 of conspiracy to operate an unlicensed money transmitting business.

Related: Delaware eyes stablecoin licensing framework under banking laws

US lawmakers have said the CLARITY Act is moving closer toward a Senate Banking Committee markup expected in April after recent bipartisan progress on stablecoin rewards provisions.

Passage of the CLARITY Act is necessary to ensure DeFi developers are afforded legal protections under the BRCA, Lummis noted.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?

Source: CoinTelegraph


最近公開された他の記事

The legal drama of imprisoned Sam Bankman-Fried is waiting on its last act
The legal drama of imprisoned Sam Bankman-Fried is waiting on its last act

Crypto Market Analysis

The fallen leader of the former top exchange FTX is looking for answers from the U.S. Supreme Court....

Revised CLARITY Act targets ‘non-decentralized’ DeFi operators
Revised CLARITY Act targets ‘non-decentralized’ DeFi operators

DeFi

The bill’s ethics section remained largely unchanged despite being one of the main points of conte...

SBF asks Supreme Court to overturn conviction, $11B forfeiture: Report
SBF asks Supreme Court to overturn conviction, $11B forfeiture: Report

Crypto Market Analysis

Bankman-Fried’s lawyers challenged the exclusion of evidence about customer losses and argued that...

Bitcoin ETF outflows accelerate as investors pull $449M in three days
Bitcoin ETF outflows accelerate as investors pull $449M in three days

Bitcoin

ARK 21Shares accounted for $164 million of Thursday’s Bitcoin ETF withdrawals, while Ether and Sol...

Trading stocks against BONER is the latest trend for DeFi degens
Trading stocks against BONER is the latest trend for DeFi degens

Meme Coins

Why would anyone want to trade a healthcare stock for a memecoin like BONER? Why wouldn’t they, as...

Metaplanet cuts Series 10 stock pool by 41%, plans Hong Kong subsidiary
Metaplanet cuts Series 10 stock pool by 41%, plans Hong Kong subsidiary

Bitcoin

Metaplanet will cut 131.3 million potential shares and form a $1 million Hong Kong subsidiary for tr...