U.S. Sen. Lummis Says Updated CLARITY Act Would Offer "Strongest Protections" for DeFi and Developers

U.S. Senator Cynthia Lummis said the revised CLARITY Act is designed to deliver what she called the "strongest protections" for decentralized finance (DeFi) and software developers, Cointelegraph reported. Her comments follow criticism from crypto attorney Jake Chervinsky, who raised concerns that the draft's developer-liability language could leave builders exposed. Lummis said bipartisan changes have been made to bolster legal safeguards for noncustodial software developers. Chervinsky cautioned that the latest draft may still leave some DeFi developers facing potential liability, arguing that the bill's definition of money transmission remains unclear. The report said the newest revised text has not yet been released publicly and is expected to move to the Senate Banking Committee for consideration in April.