Ron Wyden: The CLARITY Act Should Preserve Legal Protections for Non-Custodial Blockchain Developers
Svmuu News: U.S. Senator Ron Wyden sent a letter to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer, urging that any version of the “Digital Asset Market Clarity Act” under consideration by the Senate retain Section 604 to protect non-custodial blockchain developers who do not control users’ assets. Ron Wyden stated that developers should not be considered money transmitters simply because they create or release software that allows users to manage their own digital assets. Peter Van Valkenburgh, Executive Director of Coin Center, the DeFi Education Fund, and Alex Thorn, Head of Research at Galaxy Digital, expressed support for this position. Alex Thorn also noted that supporting developer protections does not imply that Ron Wyden will support the entire CLARITY Act. Ron Wyden also stated that this provision does not protect developers engaged in illegal activities and will allow law enforcement resources to be directed toward criminals and unlicensed money transmitters, rather than neutral software developers. (Bitcoin.com News).
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