CLARITY Act Could Clear This Year, Solana Policy Institute Says—But 4 Demands Remain To Be Met

bitcoinistОпубліковано о 2026-06-10Востаннє оновлено о 2026-06-10

Анотація

Kristin Smith, President of the Solana Policy Institute and CEO of the Blockchain Association, urged the U.S. Senate to pass the CLARITY Act, emphasizing four specific priorities must be met first. The legislation aims to provide legal clarity for public blockchain operations, focusing on protecting open-source developers and infrastructure providers who do not custody assets or control transactions. Smith argued that strong developer protections, including the key Blockchain Regulatory Certainty Act (BRCA), enhance enforcement by clearly distinguishing between different market participants, allowing authorities to target bad actors more effectively. She warned that weakening these protections could undermine the act's goal of giving builders confidence to operate in the U.S. Smith's position is to protect developers, target bad actors, preserve open-source innovation, and maintain U.S. leadership in crypto.

Kristin Smith, President of the Solana Policy Institute and CEO at the Blockchain Association, urged the US Senate to pass the anticipated CLARITY Act on Tuesday, while emphasizing four specific priorities she said must be addressed before the bill receives a full vote.

Protect Developers, Target Bad Actors

Speaking on social media site X (formerly Twitter), Smith framed the legislation as a chance to strengthen legal clarity around how public blockchains operate—particularly for the developers and infrastructure providers who build and maintain the open-source systems.

In a letter published on Tuesday, signed by more than 60 leading CEOs and founders, the industry calls on the Senate to move forward with the CLARITY Act while preserving what Smith described as robust developer protections.

According to Smith, Protecting developers sits at the center of Solana Institute’s mission. She said public blockchains depend on open-source contributors who write, maintain, and improve the code that runs them.

Because these engineers typically publish software that can be downloaded and used by anyone, she argued that they do not directly hold money, do not have the ability to freeze accounts, and do not move funds.

Smith also argued that strong developer protections do not weaken enforcement. Instead, she said that through the potential passage of the CLARITY Act, they could make enforcement more effective by creating clearer lines between different participants in the market.

When the law clearly distinguishes between intermediaries that custody assets or control transactions, bad actors, regulators, and prosecutors can focus their attention on the parties she described as actually responsible for illicit conduct—such as those custodying funds, operating platforms, or facilitating wrongdoing.

CLARITY Act With BRCA Intact

In her message, Smith pointed specifically to the Blockchain Regulatory Certainty Act (BRCA) as a key element of that approach. Smith said the BRCA provides legal certainty for noncontrolling software developers and infrastructure providers who do not custodian assets or control user transactions.

Smith also referenced a separate letter released by the Blockchain Association, saying that last week, 160 former national security, intelligence, and law enforcement professionals made a similar argument: that “clarity is an enforcement advantage.”

In her account, clearer rules help keep legitimate activity onshore and provide prosecutors with better tools to target bad actors, rather than creating uncertainty that discourages compliant development.

In Smith’s view, the core objective is not simply to pass a bill, but to ensure it leads to meaningful certainty for builders. She warned that if developer protections are weakened, the broader CLARITY Act could fall short of one of its most important goals—giving responsible builders confidence to work in the United States.

Smith concluded that the Senate should pass the CLARITY Act with the Blockchain Regulatory Certainty Act intact. She summarized her position as a straightforward set of goals: protect developers, target bad actors, preserve open-source innovation, and maintain US leadership in the crypto sector.

The daily chart shows the total crypto market cap at $2.12 trillion. Source: TOTAL on TradingView.com

Featured image created with OpenArt; chart from TradingView.com

Пов'язані питання

QWhat is the main purpose of the CLARITY Act according to Kristin Smith and the Solana Policy Institute?

AThe main purpose is to strengthen legal clarity around how public blockchains operate, specifically to protect developers and infrastructure providers, while making enforcement against bad actors more effective by clearly distinguishing between different market participants.

QWhat are the four specific priorities or demands that Kristin Smith emphasized must be addressed before the CLARITY Act receives a full vote?

AThe four priorities are: protect developers, target bad actors, preserve open-source innovation, and maintain US leadership in the crypto sector.

QWhy does Kristin Smith argue that strong developer protections do not weaken enforcement?

AShe argues that clearer legal lines between different participants, such as developers who don't custody assets and intermediaries who do, allow regulators and prosecutors to focus their attention on parties actually responsible for illicit conduct, thereby making enforcement more effective.

QWhat specific piece of legislation did Smith point to as a key element for providing legal certainty to developers?

AShe pointed to the Blockchain Regulatory Certainty Act (BRCA) as a key element that provides legal certainty for noncontrolling software developers and infrastructure providers who do not custodian assets or control user transactions.

QWhat warning did Smith give regarding the potential weakening of developer protections in the CLARITY Act?

AShe warned that if developer protections are weakened, the broader CLARITY Act could fail to achieve one of its most important goals: giving responsible builders the confidence to work in the United States.

Пов'язані матеріали

The Value Distribution of Stablecoins

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The Value Distribution of Stablecoins The article argues that stablecoins are evolving from a mere trading tool into a broad "dollar channel." It analyzes the industry's value chain through four layers: 1. **Issuance Layer (e.g., Tether, Circle):** The top layer that mints stablecoins, holds reserve assets, and captures the thickest interest rate spread. 2. **Infrastructure Layer (e.g., Bridge, BVNK):** Connects stablecoins to the traditional financial system, handling critical but complex "dirty work" like fiat on/off-ramps, banking integration, compliance (KYC/AML), and cross-border settlement. 3. **Acquiring/Distribution Layer (e.g., Stripe, Coinbase):** Embeds stablecoins into merchant systems, manages payment flows, and integrates with enterprise software. 4. **Application Layer:** End-users and businesses that ultimately use stablecoins for payments, settlement, or storing value. The author posits that while the issuance layer currently captures the most profit, the most overlooked and potentially critical layer is infrastructure. The core challenge for stablecoin adoption isn't the on-chain transfer (which is simple), but bridging the gap between blockchain and the real-world financial system. This involves solving practical problems for businesses: fiat conversion, reconciliation, tax handling, and user onboarding. Infrastructure companies are currently in a difficult "land-grab" phase—building networks, securing banking relationships, and achieving compliance country-by-country. They face pressure from both the profitable issuance layer above and distribution platforms below. However, the author suggests this layer is building a crucial moat. Once stablecoins become a default business rail, the infrastructure players who have done the hard work of integration may gain significant, durable value and pricing power.

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No one truly teaches you how to do research. You're often given a desk, a pre-selected problem, and vague instructions to "create something new." Consequently, many people reverse-engineer the job based on visible outputs—papers, posts, announcements—learning only how to *appear* like a researcher rather than how to *become* one. True research capability is built from stacking small, trainable skills, nearly all of which can be developed through deliberate practice. **Pick Your Own Problem:** Most researchers absorb problems from advisors or trends, lacking the underlying reasoning. Choosing a problem you genuinely care about, as John Schulman advises, leads to original work. Develop "taste" like a muscle: predict experiment outcomes, guess paper results from methods, and track which findings remain important over time. **Upgrade Your Inputs:** Relying on shared reading lists (arXiv hot lists, filtered group chats) leads to unoriginal conclusions. Undervalued old literature often holds crucial insights (e.g., MoE, LSTM, backpropagation). Richard Sutton's "The Bitter Lesson" or Claude Shannon's 1952 talk on creative thinking are more predictive than lengthy modern surveys. Breadth matters as much as depth: draw from neuroscience, mechanism design, hardware knowledge, and honest statistics. Read papers directly, especially appendices and limitations sections. **Write Everything Down:** As Paul Graham noted, writing exposes flaws in seemingly mature ideas. Writing is the cheapest defense against self-deception. Following Feynman's principle, Darwin programmatically wrote down facts contradicting his theory to combat memory bias. Maintain a detailed log of hypotheses, setups, predictions, results, and updated understandings. Reviewing past logs fosters essential humility.

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