KEY TAKEAWAYS
- IoTeX joins the Blockchain Association to enhance collaboration with regulators and promote DePIN technology in the U.S.
- DePINs connect real-world devices to the digital realm, with IoTeX leading policy discussions to ensure regulatory clarity.
- IoTeX aims to drive innovation-friendly policies within the Blockchain Association, focusing on compliance and equitable access.
IoTeX, a leader in Decentralized Physical Infrastructure Networks (DePIN), has announced its membership in the Blockchain Association, a prominent advocacy group representing the cryptocurrency industry in Washington, D.C. This strategic move underscores IoTeX’s commitment to collaborating with regulators to foster the growth of DePIN technology and broader blockchain adoption in the United States. The announcement was made here.
DePINs represent a novel category of blockchain technology that connects real-world devices and infrastructure to the digital realm. This includes Internet of Things (IoT)-enabled smart devices and tokenized real-world assets. While DePIN holds transformative potential, its adoption hinges on regulatory clarity.
IoTeX’s Role in Policy Discussions
Raullen Chai, CEO and Co-Founder of IoTeX, emphasized the importance of collaboration with policymakers. He stated that joining the Blockchain Association allows IoTeX to contribute its expertise to create clear pathways for DePIN projects to launch and scale without legal ambiguities, ensuring accessibility for all users.
The Blockchain Association, which includes nearly 100 leading companies and protocols, aims to establish sensible and innovation-friendly regulatory frameworks for blockchain technology. IoTeX plans to actively participate in working groups within the Association, leveraging its position as a DePIN pioneer to drive meaningful progress in policy discussions.
Advancing DePIN Innovation
Dan Spuller, Senior Director of Industry Affairs at the Blockchain Association, welcomed IoTeX’s involvement, noting that their leadership in the DePIN space will provide invaluable insights as the Association advocates for policies that foster innovation and ensure decentralized networks benefit everyone.
IoTeX’s contribution will focus on policies that enable DePIN innovation in the U.S. market. This includes addressing key regulatory challenges such as compliance for decentralized networks, ensuring equitable access for users, and supporting the tokenization of physical assets under U.S. law.
With a strong track record of collaborating with professional organizations like the Industrial Internet Consortium and IEEE, IoTeX is well-positioned to drive impactful dialogues in Washington. This partnership marks a significant step in advancing IoTeX’s mission to connect the physical and digital worlds through decentralized technology.
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