Stellar joins Blockchain Association in a bid to boost mainstream crypto adoption. As per the official announcement, the parent company of the XLM token and Stellar blockchain network, the Stellar Foundation has joined hands with the official Blockchain Association.
Every cryptocurrency has a fundamental goal i.e. to promote the mainstream adoption of digital currencies and increase their day-to-day use. Blockchain Association works to boost the public adoption of cryptocurrencies as well as decentralized open-source blockchain technologies. Stellar joins Blockchain Association with a similar aim. Other prominent members of the group include names such as Ripple, Kraken, Coinbase, and many more.
Stellar joins Blockchain Association in its crusade against strict regulations
The Blockchain Association has rallied for the crypto issues at both state and federal levels. Last year, the group was at the forefront for ‘The Token Taxonomy Act, ’ which did not include cryptocurrencies in the official ‘Securities’ definition.
It is worth mentioning that the association consistently lobbies in front of the United States government to introduce a conducive environment for the cryptocurrency and develop an ecosystem that promotes its mainstream adoption. According to estimates, around $42M was spent on cryptocurrency-related lobbying by various groups in the first quarter of 2019.
The Blockchain Association’s executive director, Kristin Smith, commented that including more members into the association will help increase the inclusiveness of the cryptocurrencies and bring more transparency to the system.
New robust systems must be built to meet the growing needs of tomorrow’s savvy digital population. Stellar will bring new technologies to the blockchain fold, helping gain the trust of the common populace.
Cryptocurrency lobbying reaches new heights
Efforts are on to reach lawmakers who support cryptocurrencies to boost mainstream crypto adoption. The current strict regulations are harming the growth of the crypto industry. The regulatory bodies are working against the digital token industry.
However, blockchain lobbying groups are also working to make sure that the industry doesn’t suffer from strict regulatory and authoritative controls.
Recently, Ripple joined the Blockchain Association to help in the fight against overtly strict regulatory controls on the crypto industry. When Stellar joins Blockchain Association, things are sure to move fast towards crypto-friendly regulations.
Featured Image By Pixabay