The Solana Policy Institute launches as the US steps up efforts to regulate and support crypto.
The organisation officially launched on March 31
Photo Credit: X/ @Solana
Miller Whitehouse-Levine, former CEO of the US-based DeFi Education Fund has launched the Solana Policy Institute (SPI), a non-partisan, non-profit advocacy group based in Washington, DC. Focused on crypto policy and education, SPI aims to collaborate with US regulators to advance Web3 initiatives. Kristin Smith, previously CEO of the Blockchain Association, will serve as SPI's President.
Whitehouse-Levine, a longstanding crypto advocate in the US, emphasised the need for deeper Web3 knowledge among lawmakers to craft effective regulations and ensure a level playing field. Speaking recently with The Block, he underscored the importance of informed policymaking beyond just Bitcoin.
Here's What We Know About the SPI
The organisation officially launched on March 31 with Whitehouse-Levine as its CEO. In the coming months, the SPI will be organising a series of education sessions for US policymakers with key opinion leaders from the Solana ecosystem. These sessions are expected to give the regulators a better understanding of the usecases of blockchain-based technologies.
Commenting on SPI's launch, Whitehouse-Levine tweeted, “It's a pivotal moment for our industry, and we need clear rules to unleash the innovators building the digital economy of the future.”
Smith, meanwhile, announced her departure from the Blockchain Association to join the SPI. She said she will wrap up her work from the Blockchain Association on May 16 and start at the SPI on May 19.
The Solana Foundation, that oversees the blockchain's overall maintenance, welcomed both, Whitehouse-Levine and Smith, into the ecosystem.
In the coming weeks, the SPI will be announcing the names of other members joining the team. It will also be publishing a detailed set of priorities around potential crypto rules.
Recent History of Solana
Solana is an established name in the blockchain industry, known for hosting decentralised applications (dApps) and non-fungible tokens (NFTs) while also processing high-speed transactions at a lower fee.
In March 2024, Solana officially overtook Ethereum on the popularity scale owing to erupting NFT and memecoin trends. At the time, Solana climbed to the first rank on CoinGecko's list of most popular blockchains – commanding nearly 50 percent of investor interests.
As of Wednesday, April 2, Solana is the sixth largest crypto asset on CoinMarketCap's index. Its present market cap stands at $64.3 billion (roughly Rs. 5,49,641 crore) with over 512 million SOL tokens in circulation.
Google Cloud and Solana Labs have been collaborating since last year on infusing blockchain elements into mainstream game development.
The launch of the SPI comes as US President Donald Trump accelerates efforts to provide a regulated and supportive growth environment for the crypto sector. The SPI is looking to use Solana's market expertise to help US regulators understand ways in which blockchain technology could be explored to revamp US' digital economy.
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