Clarifying the Future of Decentralized Finance: Industry Perspectives on the CLARITY Act

DeFi stakeholders have voiced their concerns over the CLARITY Act, stating it will push crypto and blockchain developers outside of the U.S., forcing them to operate in more favorable jurisdictions. The critics also argue that the bill favors a select few, imposing “impossible” rules for developers to follow while maintaining DeFi principles like decentralization.

The stakeholders emphasize that the bill would result in a less-favorable destination for DeFi developers if passed, negatively impacting the quality of U.S.-based DeFi projects. They claim it is flawed and fails to address the main issues affecting the industry.

Source: fullycrypto.com