Coinbase Custody and Bison Trails have joined the Proof of Stake Alliance ( POSE ), the Proof of Stake Technology Protection Group (PoS).
POSA Welcomes Two New Members
Coinbase Custody and New York-based Bison Trails, a blockchain technology company and one of the few remaining members of the Libra Association, join the Tezos, Interchain Foundation and Web3 Foundation.
The purpose of the alliance is to familiarize stakeholders in the field of regulation and policy with the Proof of Stake technology, which is becoming an increasingly visible component of the cryptocurrency and blockchain ecosystem.
As Sam Msingvale, Coinbase Custody CEO of joining POSA, said:
“Proof of Stake is an increasingly important innovation that the crypto space as a whole is rapidly approaching. POSA plays an important role by engaging with legislators and regulators to educate them on new POS technologies. We hope that through the work of organizations like POSA, we will begin to see meaningful conversations and, over time, clarity when it comes to POS and its applications.”
Proof of Stake Alliance expansion continues
POSA was founded in 2019 and currently includes almost 20 organizations.
Through events for members, advocacy with lawmakers, and advocating for tax transparency and regulatory compliance with stakeholder networks, the organization recently introduced the Securities and Exchange Commission ( SEC ) POSA analysis documentation on the interpretation of the securities law for verification relationships.
The Panel argued that an appropriate tax regime to receive interest rates was a necessary step for the development of technology. Two of its new members emphasize its importance in the industry.
As POSA board member Matt Perona told reporters:
“As our new members, Coinbase Custody and Bison Trails also reaffirm the importance of our mission and the work of all our members at the forefront as we continue to advance the Proof of Stake industry.”