Solana Institute CEO Calls for Strong Protections for Open-Source Developers in CLARITY Act

Kristin Smith, who leads the Solana Institute, is encouraging the US Senate to advance the CLARITY crypto market structure bill, while stressing that robust protections for software developers should remain part of the framework.

In comments shared on X, Smith said the legislation has a strong chance of passing the Senate, making it important for lawmakers to ensure clear protections for open-source developers in the bill.

Her comments follow a wave of backing from the cryptocurrency sector, with an open letter signed by over 60 industry figures calling for the retention of legal protections for developers, among them Solana co-founder Anatoly Yakovenko.

Smith argued that open-source developers, non-custodial wallet providers, and blockchain validators neither hold user assets nor carry out transactions on users’ behalf, and therefore should not fall under the definition of financial intermediaries.

Building on that point, she also highlighted the Blockchain Regulatory Certainty Act, which aims to provide legal clarity for developers and infrastructure providers who do not custody or manage customer assets.

Introduced earlier this year by Senators Ron Wyden and Cynthia Lummis, the bipartisan proposal seeks to ensure that publishing software code does not automatically classify developers as money transmitters.

Meanwhile, the CLARITY Act, which cleared the Senate Banking Committee in May, is now on the Senate’s legislative calendar and is positioned for a possible full vote in the coming months.

Source: Kristin Smith