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U.S. Senate Holds Intensive Consultations on the CLARITY Act: Proposal Aims to Clarify That Non-Hosted Software Developers Will Not Be Held Legally Liable for Third-Party Use of Their Code
Svmuu News: With just over two weeks remaining before the U.S. Congress recesses on July 4, senators are stepping up behind-the-scenes negotiations to push the CLARITY Act through the Senate floor voting process as soon as possible after the recess. Sources say senators from both parties will meet this week to address contentious provisions and discuss the relevant points of contention, most notably clarifying that non-custodial software developers “should not be held legally liable for third-party use of their code unless they knowingly participated in illegal activities.” Law enforcement agencies had previously expressed concern that this provision could weaken the ability to hold parties accountable for on-chain illegal activities. Industry insiders point out that as the legislative window gradually narrows, the CLARITY Act is entering a critical phase. If progress cannot be made by August, the process may be further delayed due to the upcoming election cycle. (Cryptoinamerica)
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