U.S. Senator Cynthia Lummis has announced that after revisions, the CLARITY Act will provide the strongest protection for DeFi developers. It sounds impressive, but a closer look reveals some doubts.

Crypto lawyer Jake Chervinsky pointed out that the more critical issue is that the definition of fund transmission has not been clarified. As long as this point isn't tightened, many DeFi projects—even just writing code—could be interpreted as participating in fund flows, which still carries legal liability risks.
It can only be said that the current version verbally protects developers, but legally leaves room for interpretation.
So why is this happening?
Because the true goal of regulation isn't to protect developers but to prevent funds from completely escaping the regulatory system. The core of DeFi is non-custodial, but once that is acknowledged, traditional regulatory frameworks are hard to apply, so they can only manipulate the definition.
This leads to a very practical conclusion: such bills won't be truly relaxed in the short term but will enter a gray area. They won't suppress directly as before, but they won't provide an absolute safe boundary either.
The risk hasn't disappeared; it has just shifted from overt suppression to how it is interpreted.
#CLARITY法案 #DeFi Regulation