The primary mission of the Proof-of-Stake Alliance is to educate regulators and lawmakers about the benefits of proof of stake — a consensus mechanism that is more efficient, decentralized, and environmentally friendly than proof of work.
Binance.US has joined the Proof-of-Stake Alliance (“POSA”) and signed on to support the recently released Industry Driven Solutions created by POSA.
The New York-based industry group, known as POSA, advocates worldwide for the appropriate treatment under the law of proof-of-stake–based technologies.
Industry Driven Solutions
Binance.US membership announcement comes a week after POSA released it’s Industry Driven Solutions which are a set of principles developed by POSA to ensure staking providers are seen as security and infrastructure providers rather than financial product providers.
Binance.US’ General Counsel Christopher Robbins was consulted on the drafting of the Industry Driven Solutions and helped provide guidance in the group's engagements with the SEC. The Binance.US team will also be involved as POSA deepens its engagements with other key regulators including the IRS.
In working hand-in-hand with federal regulators and POSA, Binance.US hopes to continue to highlight the importance of using staking as a mechanism to ensure the security of various blockchains and promote sound governance of the networks.
"We are extremely excited to welcome Binance.US as a new member of the Proof of Stake Alliance" said Evan Weiss, founder of POSA. "As staking gains mainstream adoption, exchanges will play a critical role in helping tokenholders secure Proof-of-Stake protocols. Leading exchanges play a critical role driving responsible standards for the staking industry. With Binance.US adopting the POSA Industry Driven Solutions, we are taking a major step in the right direction."
About the Proof-of-Stake Alliance
The primary mission of the Proof-of-Stake Alliance is to educate regulators and lawmakers about the benefits of proof of stake — a consensus mechanism that is more efficient, decentralized, and environmentally friendly than proof of work. The industry group, known as POSA, also addresses regulatory uncertainty that could limit the growth and adoption of this critical innovation. Its membership includes lawyers, protocol development teams, investment funds and industry service providers.
For more information on Proof-of-Stake Alliance, visit proofofstakealliance.org.