"Clarity Act: written rules, not interpretations"
Lummis today: "Clarity Act is for you, developers"
Technical translation:
1. Clear test: Token = Commodity if decentralized network. Token = Security if there’s a central issuer + expectation of profits. Goodbye to the gray areas.
2. Jurisdiction: Commodity → CFTC. Security → SEC. End of double jeopardy.
3. Safe harbor for devs: Code ≠ Security. The dev is no longer a target if the network operates independently.
Status June 5, 2026: Support tweet, no law signed yet.
Impact: Less legal risk, more incentives to truly decentralize.
Does your protocol pass the test?
Lummis today: "Clarity Act is for you, developers"
Technical translation:
1. Clear test: Token = Commodity if decentralized network. Token = Security if there’s a central issuer + expectation of profits. Goodbye to the gray areas.
2. Jurisdiction: Commodity → CFTC. Security → SEC. End of double jeopardy.
3. Safe harbor for devs: Code ≠ Security. The dev is no longer a target if the network operates independently.
Status June 5, 2026: Support tweet, no law signed yet.
Impact: Less legal risk, more incentives to truly decentralize.
Does your protocol pass the test?