US Crypto Policy Shifts Focus to DePIN

The US cryptocurrency industry is poised for significant changes as DePIN emerges as a key focus of US crypto policy. The Washington Blockchain Association has announced that DePIN will be a central issue in US crypto policy making, with Larry Pang, Head of the IoTeX ecosystem, elected as co-chair of the association's DePIN Working Group. Pang will co-lead the working group with Jacob Hample from the Filecoin Foundation to advance policy making in the US crypto industry regarding DePIN.

The association's Government Relations Director, Ron Hammond, who previously worked in the House of Representatives, highlighted the lack of clear crypto regulations in the US, which leaves businesses in a gray area and even forces them to move to other countries. To address this, Hammond has been actively seeking solutions to help the US maintain its competitiveness in the global crypto industry.

With the gradual clarity of regulations and industry standards, IoTeX is leveraging its deep expertise in the DePIN field to promote the mainstream adoption of this technology in the US and globally. As the crypto industry continues to evolve, the focus on DePIN and the appointment of Pang as co-chair of the DePIN Working Group signals a significant step towards clearer regulations and industry standards in the US.