Solana Co-Founder Urges Congress: Regulate Crypto To Retain America's Rising Innovators | Bitcoinist.com

Bitcoinist
Bitcoinist

19 Sep 2023 12:30 AM

Anatoly Yakovenko, co-founder of Solana, emphasized the urgent need for regulatory clarity in the blockchain industry to attract and retain top talent....

  • Anatoly Yakovenko, co-founder of Solana, emphasizes the need for regulatory clarity in the blockchain industry to attract and retain top talent in the United States.
  • Yakovenko believes that penalizing an entire industry for the actions of a few bad actors is not fair.
  • Blockchain entrepreneurs face challenges in navigating the complex legal landscape and making their companies compliant.
  • The absence of clear rules and legal uncertainties deter young entrepreneurs, leading to more founders leaving the United States for jurisdictions with more favorable regulatory environments.
  • Yakovenko urges Congress to provide a coherent regulatory framework that protects consumers, encourages entrepreneurship, and aligns with American values.
  • He commends the bipartisan efforts of Congressional committees in advancing key legislation for digital assets and stablecoins.
  • Yakovenko calls for government investment in blockchain research and development and advocates for policymakers to familiarize themselves with blockchain technology.

The sentiment of the article is generally positive, as Anatoly Yakovenko emphasizes the need for regulatory clarity in the blockchain industry and urges Congress to take action. He believes that providing regulatory clarity, promoting research and development, and supporting blockchain entrepreneurs can safeguard the country's technological leadership.

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