will the clarity act be good - or bad - for defi? the clarity act could reset the relationship between regulators and defi - but the industry isn't out of the woods just yet. the #clarityact could unlock non-custodial #defi in the #us, a game-changer ignored amid #stablecoin yield drama. unlike #europe's mica (which doesn't cover non-custodial projects), clarity creates the first u.s framework for decentralized protocols. key distinction: non-custodial developers - node operators, validators, interface builders - won't need sec/cftc registration or kyc, since they're not "financial intermediaries." sections 109 (house) and 604 (senate) explicitly protect developers building software without controlling user funds from money transmitter rules. this "dual-track" approach concentrates oversight on custodial entities and stablecoin issuers while protecting defi innovation. the blockchain association sent 21 executives from 18 companies to #senate offices specifically on defi provisions. prediction markets price 72% odds of 2026 passage, but senate markup remains critical battleground. #VrReports