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Greatly appreciate @RepFrenchHill and his team's tireless work on CLARITY -- and the key protections for DeFi and DeFi developers included in it.
The Chairman is right: noncustodial, peer-to-peer self-executing code is very different than centralized trading platforms. CLARITY recognizes this.
17.7.2025
A few moments ago on the House Floor, @RepFrenchHill acknowledged that "decentralized finance or DeFi developers do not take custody of user assets, nor do they control user assets. Therefore, we should not treat them in the same way we treat centralized actors who do have custody, who do have control over assets."
Thank you Chair Hill for recognizing DeFi's unique characteristics.
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