Polygon Labs president testifies on democratizing the internet with Web3, blockchains By Cointelegraph

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© Reuters

The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president Ryan Wyatt and several legal experts, appeared before the committee to engage in what transpired to be a constructive dialogue.

This meeting was held just after the SEC announced back-to-back lawsuits against major crypto exchanges Binance and Coinbase (NASDAQ:). In Wyatt’s testimony, he discussed the potential of blockchain technology and its value to users, and the benefits of building a healthy and well-regulated blockchain ecosystem in the United States.