White hat hackers receive a reward scheme in the draft CLARITY Act bill 🇺🇸🛡

White hat hackers receive a reward scheme in the draft CLARITY Act bill 🇺🇸🛡

Background
📌 Inclusion of a special protective and incentive clause for white hat hackers in the new draft of the digital markets structure bill (CLARITY Act)
📌 The role played and advice provided by J. Christopher Giancarlo, former Chairman of the US Commodity Futures Trading Commission (CFTC) and a prominent supporter of regulatory clarity for crypto
📌 Special attention by US lawmakers to infrastructure security and the identification of buggy code and vulnerable protocols

Focus
🎯 Legalizing and granting rewards to ethical hackers: Creating a safe and legal framework for identifying security vulnerabilities in crypto protocols and structured programs
🎯 Reducing the risks of hacks and abuse: Encouraging cybersecurity researchers to report their findings to projects in exchange for a reward (Bug Bounty) instead of illegally exploiting them or selling them on the black market
🎯 Giancarlo's role: Using the regulatory experience of the former CFTC Chairman to strike a balance between the requirements of security rules and the preservation of technical innovation in the ecosystem

Implications
⚡️ A significant increase in the security of DeFi protocols and smart contracts by formalizing the activity of white hat hackers
⚡️ A reduction in the volume of stolen assets in the crypto market and greater confidence among institutional investors in the security of the digital asset space

Conclusion
📊 The inclusion of financial and legal incentives for white hat hackers, with advice from prominent figures such as Christopher Giancarlo, is considered a major step toward improving security in the crypto space and turning security challenges into a tool for the industry's sustainable growth.

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