Solana Policy Institute Urges Senate to Advance Clarity Act Digital Asset Bill

The Solana Policy Institute (SPI) has written to Senate leaders from both parties urging them to advance the Clarity Act digital asset bill before its legislative window closes in early August. The bill aims to provide regulatory clarity for U.S. crypto developers, institutions, and consumers. It also establishes a 'non-money transmission' safe harbor for non-custodial software developers through the Blockchain Regulatory Certainty Act.

The latest Republican version of the bill adds ethical provisions prohibiting federal officials and their spouses from issuing or sponsoring digital assets, with these provisions set to expire on January 20, 2029. SPI stated that this bill can help prevent 'regulatory and criminal enforcement overreach' against software developers and maintain momentum for domestic development in the United States.