The Stellar Development Foundation met with U.S. policymakers and regulators in Washington, DC to discuss blockchain regulation and the Stellar Network. SDF emphasized distinguishing between base protocols (which should remain unregulated) and applications built on top (which should follow existing compliance standards) to enable innovation while protecting consumers.
The Stellar Development Foundation traveled to Washington, DC to engage with U.S. policymakers, regulators, and NGOs about blockchain regulation and the Stellar Network. Key takeaways include: Facebook's Libra project has accelerated regulatory interest in cryptocurrency, with potential bills coming as early as fall; Congress needs industry education to understand diverse blockchain technologies; and policymakers should regulate applications and money transmitters under existing standards while allowing base protocols to develop unhindered. SDF emphasized that treating blockchain protocols like internet base protocols (generally unregulated) while holding consumer-facing products to compliance standards is the best approach to prevent fraud while encouraging innovation.
