Aave founder: The Clarity Act is crucial for DeFi, providing developers with confidence and protection.

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According to Mars Finance, on May 14th, Aave founder Stani posted on social media regarding the newly released revised market structure of the CLARITY Act, arguing that the act is crucial for DeFi. The act provides strong protection for DeFi developers, giving them confidence to develop in the US. If the US wants to maintain its leadership in DeFi, the regulatory framework must preserve the ability to build and maintain decentralized protocols, rather than imposing unfeasible obligations suited to centralized models on DeFi developers. If the US succeeds, other countries will follow suit. Stani believes that yield issues have largely been irrelevant. The passage of the CLARITY Act could create a tailwind effect for DeFi similar to the GENIUS Act for stablecoins. This is far more important than anything else: providing developers with clear guidance and confidence to build the financial track the future world will rely on. He praised the work done by the Senate Banking Committee members throughout the long process and encouraged them to vote for a bipartisan framework that developers can rely on, believing that "DeFi will win."

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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