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fromBitcoin Magazine
1 week ago

New CLARITY Act Draft Could Shield Bitcoin And Crypto Developers From Past Liability

On Friday, the U.S. Senate Banking Committee released its latest draft of the CLARITY Act (CLARITY), in which it proposes an amendment to 18 U.S. Code § 1960(a) stipulates that only crypto developers or providers that "knowingly exercise control over currency, funds, or other value that substitutes for currency" be treated as money transmitting businesses. What is more, this amendment would not only protect Bitcoin and crypto developers in the wake of a bill with this language included in its passing, but it would also protect said developers retroactively. In Section 501 of section Title V of the draft, entitled "Protecting Software Developers and Software Innovation," it states that "This section, and the amendments made by this section, shall apply to conduct occurring before, on, or after the date of enactment of this Act."
US politics
US politics
fromBitcoin Magazine
2 months ago

US House Passes Bitcoin, Crypto Market Structure Bill The CLARITY Act

The US House of Representatives passed the CLARITY Act, establishing regulatory clarity for digital commodities like Bitcoin.
Cryptocurrency
from24/7 Wall St.
2 months ago

A Quiet Shift in D.C. Could Detonate the Next Bitcoin ETF Rally

Major bills such as the CLARITY Act and the GENIUS Act could significantly impact the digital assets industry and the mainstream adoption of stablecoins.
Cryptocurrency
fromBitcoin Magazine
3 months ago

The CLARITY Act Heads To House Floor For Vote With Protection For Noncustodial Tools Intact

The CLARITY Act passed key committees with strong bipartisan support, crucially protecting noncustodial blockchain developers from money transmission regulations.
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