1inch and 60+ Leaders Push Senate for Developer Protections in Clarity Act
1inch and 60+ Leaders Push Senate for Developer Protections in Clarity Act
🏛️ The Line That Matters
1inch has joined over 60 CEOs and founders in urging the U.S. Senate to pass the Clarity Act with critical developer protections.
The coalition emphasizes a fundamental principle: developers who do not control user funds should not be classified as money transmitters. This distinction is crucial for the future of decentralized finance development.
This effort builds on previous advocacy where 1inch and 100+ industry leaders called for clear regulatory frameworks. The industry argues that without proper clarity, innovation slows and developers are forced to leave the U.S. market.
Key points:
- Open-source developers are not custodians and shouldn't be regulated as such
- The coalition seeks to protect self-custody rights and developer freedoms
- Clear rules are needed to prevent complex regulatory risks that stifle innovation
The push represents a united front from the crypto industry to establish sensible regulations that distinguish between custodial services and non-custodial development work.
1inch joined 60+ CEOs and founders urging the Senate to pass the Clarity Act with developer protections intact. A developer who does not control user funds is not a money transmitter. That line matters.
This industry takes care of its builders. Thank you to the 60+ CEOs and founders who sent a clear message to Senate leadership today: Pass the Clarity Act with developer protections and the BRCA intact. Developers who do not control user funds are not money transmitters. Read
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