Solana Co-Founder Insists US Government Explore Web3 Space

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  • Anatoly Yakovenko shared insights on the urgency of introducing convenient crypto regulations in the United States.
  • The Solana co-founder narrated the declining status of the US in the crypto and blockchain spaces.
  • Yakovenko suggests the government explore the opportunities of technology for the upliftment of the economy.

Anatoly Yakovenko, the co-founder of Solana Labs, recently shared insights on the exigency of introducing convenient and comprehensive crypto regulations in the United States as a key vehicle to retain America’s lead in the blockchain and Web3 sectors.

Reflecting on the degenerating state of the nation, where crypto entrepreneurs search for a better environment, Yakovenko pinpointed the necessity for the sincere cooperation of the government in the development of blockchain technology.

Yakovenko posted on X (formerly Twitter) the key notions highlighted by him in the article published by Fortune. He wrote about the future of crypto in the United States and the measures needed to be implemented for a more crypto-friendly environment.

According to the Solana co-founder, there are a variety of creative solutions that policymakers could bring forth, for which they should experience and experiment with the technology themselves. One of the major hindrances that stop lawmakers from entering the world of crypto, thereby limiting good policies, is their ethics rules.

Meanwhile, he acknowledged the efforts of the bipartisan members who supported the regulatory frameworks for digital assets. Nonetheless, Yakovenko pointed out the limitations of the rules and the inevitable support from Congress for the establishment of the technology. He stated:

The bills aren’t perfect. No legislation is. As a country and as an industry, we cannot let perfect be the enemy of the good. Congress must continue stewarding these efforts to protect American technological leadership, provide important market protections, and promote a free and open internet.

The Solana co-founder shed light on the extensive opportunities and applications of the blockchain and Web3 technologies that the government could explore for the upliftment of the economy. He stated that the authority could implement crypto services in humanitarian relief funds or launch decentralized communication facilities in regions with less internet connectivity.