115 Cryptocurrency Firms Urge U.S. Senate to Strengthen Developer Protections in Clarity Act

The U.S. DeFi Education Fund (DEF), along with 115 organizations related to cryptocurrency and investors, submitted a letter to the U.S. Senate Banking and Agriculture Committees, advocating for the inclusion of strong federal-level protections for software developers and non-custodial service providers in the Digital Asset Market Clarity Act (Clarity Act).

The Clarity Act aims to clearly define whether cryptocurrencies are classified as 'securities' or 'commodities', and to clarify the supervisory responsibilities of regulatory bodies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

This bill was passed in the House in July...