Blockchain projects face ‘lack of appetite’ from US regulators, says Austin Federa By Cointelegraph
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Austin Federa, head of strategy at the Foundation, spoke to Cointelegraph at the ETHDenver conference on the network’s outages, the impact of regulation on other projects, and the launch of its mobile device.
Federa said the New York Department of Financial Services — or NYDFS, one of the state regulators responsible for licensing crypto firms — was essentially setting up roadblocks for many projects looking to issue stablecoins or similar blockchain services. He added that Solana had heard from projects facing “pretty draconian” rules in the European Union related to shifting to non-custodial wallets.
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Austin Federa, head of strategy at the Foundation, spoke to Cointelegraph at the ETHDenver conference on the network’s outages, the impact of regulation on other projects, and the launch of its mobile device.
Federa said the New York Department of Financial Services — or NYDFS, one of the state regulators responsible for licensing crypto firms — was essentially setting up roadblocks for many projects looking to issue stablecoins or similar blockchain services. He added that Solana had heard from projects facing “pretty draconian” rules in the European Union related to shifting to non-custodial wallets.
Continue Reading on Coin Telegraph
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