BlockBeats News, May 13, the U.S. Senate Banking Committee will hold a committee hearing on the "Cryptocurrency Market Structure Act" (i.e., the CLARITY Act) on May 14 (Thursday) at 10:30 a.m. ET. This is a key step in the legislative process. If passed, the CLARITY Act will advance to a full Senate vote.

Aave founder Stani Kulechov tweeted that the latest version of the "CLARITY Act" is crucial for DeFi, as it will provide DeFi developers in the U.S. with clearer legal protection and developer safeguards when building protocols. If the U.S. wants to remain at the forefront of DeFi, the regulatory framework must allow developers to build and maintain decentralized protocols, rather than imposing unenforceable obligations more suitable for a centralized model on DeFi developers. He believes that if the U.S. successfully establishes this framework, other regions around the world may follow suit. He also noted that, rather than focusing on yield issues, what's more important is that the "CLARITY Act" could, like the "GENIUS Act" did for stablecoin development, bring new tailwinds to DeFi.