The importance of developer protections in the Clarity bill

In Clarity there is a BCRA provision which is by far the most important thing.

It provides developer protections against being treated as a money transmitter for non-custodial smart contracts.

For tornado cash, either fincen/sec stated non-custodial smart contracts are a free speech issue.

The DOJ in their case against tornado argued that they are not bound by what another federal agency says which was a terrible precedent imo.

If:

• The BCRA was law when tornado cash was deployed, and

• Tornado Cash did not actively market itself as a way to evade US sanctions/kyc/aml

Then the DOJ’s case against tornado cash wouldn't have been possible.

BCRA is a huge win for the industry and for innovation.