Solana’s Founder Steps Into U.S. Crypto Policymaking Circles

U.S. crypto policing is drawing builders to the table. The founder of Solana high-speed blockchain, Anatoly Yakovenko, is selected to work at a new advisory body within the U.S. Commodity Futures Trading Commission. The shift is an indication of increased receptiveness to the direct industry knowledge in policy formation.

Work of the Innovation Advisory Committee

The 35-person Innovation Advisory Committee is aimed at providing the guidance to the regulators regarding the emerging technologies. It specializes in blockchain infrastructure, artificial intelligence, and the digital market development of assets. The panel, under the leadership of Michael S. Selig, is trying to modernize the way U.S. markets react to the fast changing technology.

The appointment of Yakavenko introduces practical experience in the protocol design to federal discourse. His history with low-latency high-throughput systems provides a better understanding of the real workings of modern networks to regulators. This real-life experience may have an impact on the future assessment of derivatives, speed of settlement, and on-chain transparency.

Regulatory Visibility of Solana Increases

Meanwhile, the presence of Solana in the policy discussions is growing. Scalable networks are naturally becoming a priority as regulators look into the intersection of blockchains and commodities / futures markets. Overall, this appointment brings forward a shift of tone. Rather than policing at a distance, American agencies are now seeking direct consultation with builders. This will minimize tension between innovation and monitoring. It increases the chances of clearer and more informed technical rules as well.

What Comes Next

Although the committee is not a law making body its influence is a factor. The way crypto derivatives and on-chain commodities are handled in the future, as well as real-time settlement systems, may be guided by the recommendations of this group. In the case of projects such as Solana, this is an opportunity and a liability.

The post Solana’s Founder Steps Into U.S. Crypto Policymaking Circles appeared first on Coinfomania.