Clarity Act Finalized: Exemptions for DeFi and Restrictions for Trump

The U.S. Senate has released the final draft of the Clarity Act, a comprehensive bill aimed at regulating the cryptocurrency market in the United States.

The legislation includes critical provisions that grant exemptions to DeFi developers and impose temporary ethical restrictions on high-level officials, including President Donald Trump.

According to the draft, DeFi developers who do not directly control users' assets will not be classified as 'money transmitters,' which carries heavy financial obligations.

The bill also includes federal preemption, temporary registration procedures, and new technical regulations regarding commodity pool operators.