A ConsenSys lawyer has expressed concerns over the Senate Agriculture Committee's draft proposal, which lacks a 'safe harbor' provision for decentralized finance (DeFi) operators. The absence of clear legal protections in the draft has raised alarms about potential legal risks for operators of decentralized exchange (DEX) front-ends and lending protocols. This issue is considered a significant obstacle in the progress of the crypto market structure bill, with the likelihood of the CLARITY Act passing in 2025 now estimated at 37%, a decrease from previous expectations.
ConsenSys Lawyer Criticizes Senate Draft for Omitting DeFi Safe Harbor
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