The CLARITY Act, which is intended to provide regulatory clarity to the crypto industry, has been working its way through Congress for the past couple of years, but Duke University lecturing fellow Lee Reiners, who previously worked as a bank examiner at the New York Federal Reserve, says the new law would remove securities regulation protections for consumers from crypto tokens such as the Trump-affiliated World Liberty Financial’s WLFI token. The claim was made in a new blog post published by Reiners on Friday where he also claimed that WLFI is an unregistered security as it exists today and the SEC lacks the integrity needed to enforce the law. Reiners builds his case that WLFI functions as an unregistered security by applying the Howey test, a legal framework established by the Supreme Court in 1946.…