Akash CEO: Regulators have recognized the unique benefits of DePIN

Alvaro Garcia, a partner at Borderless Capital, recently said: “DePIN is probably the only category in Web3 where the value comes from outside the crypto industry,” which he believes also makes the DePIN project uniquely resistant to the bear market that may affect other crypto projects. In a recent interview at the mainnet conference, Greg Osuri, CEO of Akash, a DePIN protocol, echoed this view. The protocol provides users with a decentralized market to buy and sell computing power using AKT tokens, and said that regulators have taken notice of the project’s role. “I spent a lot of time on Capitol Hill... I had a meeting with a key staff member of the House Energy and Commerce Committee... I introduced myself and they said, ‘We know Akash, it’s the intersection of DePIN and artificial intelligence,’” Osuri said, calling the meeting “very productive.” Osuri continued: "DePIN has more mainstream appeal than other crypto tracks. Currently, there is a lack of regulatory demand to ensure that DePIN is not regulated like NFT and DeFi, because regulators will classify all industries as one when looking at cryptocurrencies and regulate accordingly, so I think it is very important for us to separate (DePIN and other cryptocurrencies) regulation and ensure that legislators and regulators get the message. (Akash and InFlux) don't care about competition... As a way to show that we can achieve unity because we all care about the industry... Through this unity, I think we can achieve regulatory clarity." (The Block)