A naukri.com initiative
Bitcoinmagazine
1M
134
The CLARITY Act Heads To House Floor For Vote With Protection For Noncustodial Tools Intact
- The CLARITY Act passed through the House Agriculture and Financial Services Committees with bipartisan votes.
- The bill includes protection for noncustodial products and services, following the addition of language from The Blockchain Regulatory Certainty Act.
- Section 110 of The CLARITY Act specifically exempts non-controlling blockchain developers and service providers from being considered money transmitters.
- This protection is crucial for Bitcoin and crypto enthusiasts using noncustodial wallets and developers creating such services.
- The bill also prevents future laws from treating non-custodial actors as money transmitters or similar.
- The issue is pertinent as developers of services like Samourai Wallet and Tornado Cash face trial.
- The protection of noncustodial service providers is essential for U.S. citizens' right to use digital assets privately.
- Rep. Bryan Steil highlighted the importance of transactional privacy in financial transactions during a hearing.
- Americans are encouraged to support The CLARITY Act by contacting their elected officials through saveourwallets.org.
Read Full Article
8 Likes
For uninterrupted reading, download the app