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Denelle Dixon, Stellar Foundation CEO Shared Key Takeaways from Crypto CEOs’ Congressional Hearing.
At the “First Mover” Denelle discussed this week’s congressional hearing with crypto CEOs and the future trajectory of U.S. crypto regulation. Dixon and the panel discussed government officials’ concerns over consumer protection, the prospects of a digital dollar, and if a new regulatory body should be created to oversee the crypto industry.
Denelle Dixon: I think that the biggest take away from the concerned standpoint is consumer protection. I think what they are constantly trying to figure out: Is there sufficient consumer protection here? You heard of them talk about is there notice? Is there opportunity for consumers to understand the technology?
And, I think we need to be able to really separate that out a bit and say consumer protection statues are applicable to everyone across the board. All of these entities have those obligations to be fair and reasonable with their consumers and to be able to provide notice.
So, we don’t need to fix that part of it, because there is already the opportunity there for that to happen. But what we do need to do is be able to pull that thing that strips through about literacy. That was the other thing that you heard: Is there enough understanding and knowledge of this ecosystem?
And, what they hear us like to say is I don’t need everyone to understand the underlying technology. We just need these use cases to have really good UX and UI design. And, when we start to get to that and when we start to pull those through the use cases with really good UX UI and in context notification, they are going to see a lot more on what they already today in the web. And, I think that is going to be a lot better for that. So, the consumer protection and this literacy piece will be one thing I think kind of goes across both the sides of the isle.
Community Reaction: Recipe for adoption and success: 1. A good website 2. A good wallet (built by/supported by the Stellar foundation) 3. Reward system (staking, governance token [gXLM maybe], etc…) Apply points 1-3 with a good UX/UI design & Stellar will be in the top 10 in no time. No brainer!
So much time/energy is directed elsewhere, when usability and understanding will follow as long as 1-3 are implemented properly.
This woman is absolutely brilliant she is one of the main reasons I have so much faith in Stellar XLM.
Dixon is legendary in the Crypto industry
