John Meddel joins us now for our next guest interview.
He is the head of public policy at Injective.
We'll talk Clarity Act and much more.
Thanks a lot for being here.
It's good to see you.
Thank you for having me.
So speaking of the Clarity Act, members of Congress finally moving from the crypto hearings part of this to actual rulemaking.
It took long enough.
What is it?
Clarity Act actually change, you think, first and foremost for the crypto industry?
I think it brings clarity for the title, no pun intended, but really it creates the rules for the road that allows us to be able to conduct business in a transparent and governed way.
So that's very helpful for us to be able to continue to develop onshore and build the market and other products if you will, on shore.
That's a very, very important.
Big high profile bills like this are subject to lots of lobbying, lots of negotiations.
Things tend to change over time.
How is the bill that passed?
From what was first presented a few months ago I think what you see here is a much more concrete product.
This is not just guidance or a framework.
This really produces the rules of the road and gives the regulators an opportunity to opine and create more concrete.
Guardrails, if you will, so this will not only turbocharge the industry but also give people a lot more comfort and a lot of guidance on how to approach this market.
John, when I was a Capitol Hill reporter in Washington, members of Congress of both parties, they were really just learning about blockchain technology and this underlying crypto world for the first time.
What is the big defi misunderstanding you think the industry still needs to do a better job conveying to lawmakers in Washington?
That's a very good point.
We are in this moment in time where we've progressed, but more education is needed.
We Really have to be able to work with members of Congress and some of them very unfamiliar with this new technology to help explain the nuances and the benefits as well as the risk of this new technology and DeFi especially creates probably the most.
Uh, discomfort in some ways, so we really need to work and boost that educational level and one of the things in fact we're doing at Injective is we are launching a policy institute to help in this conversation, this debate if you will, because more education.
And more is needed just frankly out there and talking about these type of issues.
What are some of the top priorities for the injective Policy Institute and a bit more about it for anyone unfamiliar, and I wonder what you saw was missing in the industry that needed to be addressed.
I think it's, there was a lot of attention obviously put in yield and stable coins during the debate the last few months.
I think we want to make sure we, we cover some of these areas in DFI that we're not focused on as, as much.
So whether it be developer protection, tokenization, other areas, I think there's a lot of ground that could.
Covered and still should be covered and there's a great opportunity here with a new Congress coming into place very shortly.
I think new members of Congress, new blood, let's get in there and help educate them.
John Mddell is the head of public public policy, excuse me, at Injective, finally getting this thing over the finish line for the Clarity Act.
Congratulations.
Thanks for joining us.
Not a problem.
