Galaxy Digital: CLARITY Act drops criminal protection for developers
- —Both references to 18 U.S.C. 1960, which gave developers criminal protection, were removed from the final CLARITY Act text
- —The ethics ban for officials became permanent: provisions for its expiration on January 20, 2029 were removed
- —The significant-holding threshold was lowered from 20% to $15,000, with fines rising to 20% or $500,000
- —State attorneys general gained the right to seek injunctions when residents suffer losses above $100
Why it matters: Weaker developer protections and stricter ethics rules could shift the Senate vote count ahead of the procedural vote on the bill.
Source: The Crypto Times