“It’s really exciting to see institutional adoption of DeFi and blockchain technology, but none of this works if we don’t have basic protections in place for those software developers who help write the code that create these services.” – 01:49
Kristin Smith, President of the Solana Policy Institute, joins Remy Blaire to discuss the significant regulatory catalysts emerging as Congress returns to Capitol Hill after the August recess. Kristin shares insights into a recent collaborative effort involving over 100 organizations, including the Solana Policy Institute, which sent a letter to Congress advocating for developer protections in upcoming market structure legislation. She emphasizes the importance of ensuring that software developers are not held liable for the misuse of their open-source code, drawing a parallel to how car manufacturers are not prosecuted for crimes committed using their vehicles.
The conversation also touches on a recent court decision affecting two software developers, for which the Solana Policy Institute is supporting an appeal. Kristin expresses optimism about the progress made in regulatory frameworks over the past several months, allowing the industry to focus on innovation and the development of useful applications.
As the segment progresses, Remy and Kristin discuss the Solana Policy Institute’s priorities moving forward, including the need for clarity regarding the treatment of staking rewards and the importance of filling vacancies at the CFTC to ensure effective regulatory oversight. Kristin elaborates on the concept of internet capital markets, envisioning a future where all assets trade online and emphasizing the need for legal updates to facilitate a seamless user experience in tokenized equities and derivatives.