Stellar Development Foundation (SDF) Joins Blockchain Association | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
According to a report by Decrypt published on February 18, 2020, the Stellar Development Foundation – the organization behind the Stellar blockchain network and its native XLM digital token – has officially joined blockchain industry trade and lobbying group, the Blockchain Association.
Stellar Now a Member of the Blockchain Association
In a bid to foster blockchain adoption en masse, open-source distributed ledger technology (DLT) project Stellar has joined the Blockchain Alliance – a lobbying group with a mission to bring crypto adoption into the mainstream in the U.S. Notably, some of the other members of the Blockchain Association include the likes of Coinbase, Ripple, and Kraken, among others.
In 2019, the Blockchain Association got the limelight for spearheading the cause for “The Token Taxonomy Act” which seeks to exclude cryptocurrencies from the official definition of a security in the U.S.
It’s also worth highlighting that the Blockchain Association is just one among some 40 lobbying groups pushing for conducive regulations and business ecosystem for DLT and cryptocurrency businesses in the U.S. Per sources close to the matter, a combined total of $42 million was spent by crypto and DLT businesses for lobbying congress in Q1 2019 alone.
Commenting on the addition of the Stellar Development Foundation to the lobbying group,