Senator Ron Wyden urges Congress to keep developer protections in CLARITY Act

The post Why Section 604 Is the Clarity Act Fight Crypto Developers Are Watching appeared on BitcoinEthereumNews.com. Senator Ron Wyden has urged Senate leaders John Thune and Chuck Schumer to preserve the Blockchain Regulatory Certainty Act (BRCA) in any version of the Digital Asset Market Clarity Act (Clarity Act) that reaches the floor. The Oregon Democrat made the request in a recent letter. He was the co-sponsor of the standalone BRCA, alongside Republican Senator Cynthia Lummis. Why Clarity Act’s Section 604 Matters The BRCA sits inside the Clarity Act as Section 604, as passed by the Senate Banking Committee. The provision clarifies that non-custodial software developers are not money transmitters solely because they create or publish code. Wyden argues the BRCA provides a “commonsense clarification” that the Bank Secrecy Act and the criminal code should be viewed together. He added that the provision will allow Congress to codify existing federal policy.   In addition, Wyden no

The post Senator Ron Wyden urges Congress to keep developer protections in CLARITY Act appeared on BitcoinEthereumNews.com. Sen. Ron Wyden has urged Senate leaders to keep legal protections for non-custodial blockchain developers in the CLARITY Act as negotiations over the crypto market structure bill continue. Summary Senator Ron Wyden has urged Senate leaders to keep protections for non custodial blockchain developers in the CLARITY Act. The proposed provision would clarify that software developers who do not control user funds are not treated as money transmitters. The Senate is still negotiating developer protections, ethics rules and other unresolved issues before the crypto market structure bill can move forward. In a letter sent to Senate Majority Leader John Thune and Senate Democratic Leader Charles Schumer, Democratic Senator Ron Wyden urged congressional leaders to retain Section 604, known as the Blockchain Regulatory Certainty Act (BRCA), in any future version of the CLARI

The post Senate Leaders Urged to Keep Dev Protections in CLARITY Act appeared on BitcoinEthereumNews.com. US Democratic Senator Ron Wyden has urged Senate leaders to ensure that crypto developer protections stay in the crypto market structure legislation that lawmakers are looking to pass ahead of the midterms. Wyden told Senate Minority Leader John Thune and Senate Majority Leader Charles Schumer to preserve a section of the CLARITY Act known as the Blockchain Regulatory Certainty Act (BRCA), according to a letter shared by Crypto in America podcast co-founder Eleanor Terrett on Wednesday. “Developers who make and release software that allows people to manage their own digital assets — and, critically, where the developer does not control user assets — should not be treated as money transmitters solely because they create or publish software,” Wyden wrote. The letter comes after certain groups and lawmakers opposed the BRCA. A group of law enforcement organizations and a coalition of

Wyden's advocacy highlights the critical need for clear regulatory frameworks to foster innovation and protect blockchain developers. The post Wyden urges Senate leaders to keep developer protections in the CLARITY Act appeared first on Crypto Briefing.

Senator Ron Wyden has called on Senate leaders to ensure the Blockchain Regulatory Certainty Act remains in the CLARITY Act when it is brought to the floor.

The post A New York Crypto Legal Director Role Is Advertising $1 Million to $5 Million a Year – Bitcoin News appeared on BitcoinEthereumNews.com. Key Takeaways Pump.fun posted a New York legal role paying $1 million to $5 million a year. Solana memecoin volume tops $300 million daily as bitcoin sits 50% below October. Pump.fun faces a 2025 New York class action as the Clarity Act points to tighter rules. Pump.fun is shopping for a top lawyer in New York, and it is dangling a payday that would make most Big Tech compensation packages look modest: $1 million to $5 million a year. The timing is awkward for anyone pitching crypto stability, with Bitcoin down about 50% since 10/01 and regulators tightening screws from Europe’s MiCA to Washington’s evolving Clarity Act. Pump.fun’s meteoric growth on Solana has brought big volume and even bigger scrutiny, including a New York class action that accuses the platform of operating a Ponzi scheme. For a company trying to become a global brand, the

The post Kraken Wins $22 Million Arbitration as Arjun Sethi Calls for Clear Crypto Rules appeared on BitcoinEthereumNews.com. Key Takeaways Payward won a $22M award and asked Delaware court to enter judgment against Mazars USA. Kraken says Mazars’ exit reflected 2023 crypto regulatory pressure and debanking concerns. Arjun Sethi urged Congress to pass the CLARITY Act for clearer U.S. crypto rules. Kraken Asks Delaware Court to Enforce $22 Million Award Against Mazars USA Payward, the parent company of Kraken, has asked the Delaware Court of Chancery to enter final judgment against Mazars USA after an arbitrator awarded the crypto exchange operator $22 million. The dispute stems from Mazars’ decision to withdraw from Kraken’s nearly completed 2022 audit in December 2023. According to Payward Co-CEO Arjun Sethi, Mazars had audited Kraken for three years, issued two clean opinions, and was days away from completing a third. Sethi said the auditor confirmed in writing that it did not disag

Payward, Kraken’s parent company, has asked the Delaware Court of Chancery to enter final judgment against Mazars USA after winning a $22 million arbitration award. Co-CEO Arjun Sethi framed the case as part of a broader fight over debanking, regulatory pressure and the need for clear U.S. crypto market rules. Kraken Asks Delaware Court to […]