Solana pushes Senate on developer safeguards

Solana Institute CEO Kristin Smith has urged the US Senate to preserve developer protections in the CLARITY Act, arguing that open-source developers and blockchain infrastructure providers should not be regulated as financial intermediaries.

Smith said the crypto market structure bill has a realistic chance of passing the Senate, making it important for lawmakers to maintain safeguards for software developers who do not control customer assets or transactions.

“Has a real shot at passing the Senate,”

Said Solana Institute CEO, Kristin Smith.

Smith noted that more than 60 crypto executives and founders, including Solana co-founder Anatoly Yakovenko, signed an open letter calling on senators to retain strong protections for developers, validators and non-custodial wallet providers.

She also highlighted the Blockchain Regulatory Certainty Act, a bipartisan proposal introduced by Senators Cynthia Lummis and Ron Wyden that would prevent non-custodial software developers from being classified as money transmitters solely for publishing code.

The CLARITY Act cleared the Senate Banking Committee in May and has since been placed on the Senate Legislative Calendar, positioning the legislation for a potential floor vote later this summer.

Smith’s comments mirror recent remarks from SEC Commissioner Hester Peirce, who argued that publishing open-source blockchain software is generally protected speech under the First Amendment and should not automatically subject developers to financial regulation.

At the time of reporting, Solana price was $64.82.