Aave founder says CLARITY Act will be a tailwind for DeFi

Stani Kulechov, founder of the DeFi lending protocol Aave (AAVE), has urged U.S. lawmakers to approve the CLARITY Act ahead of a vote in the Senate Banking Committee, calling the bill a potential turning point for the industry. In a post on X, Kulechov described the legislation as fundamental, stating it would establish strong protections for DeFi developers to build services in the U.S. with greater confidence. He argued that for the U.S. to lead in DeFi, it must not impose obligations designed for centralized models on developers of decentralized protocols, adding that other countries will follow America's lead if it succeeds. Kulechov also noted that the issue of yield is not particularly important, suggesting the CLARITY Act's passage could provide the same kind of tailwind for DeFi that the GENIUS Act brought to the stablecoin sector. He stressed that providing clarity and confidence to developers is paramount.