Polygon Labs CLO Testifies on Digital Asset Future
Polygon Labs CLO Testifies on Digital Asset Future
⚖️ Congress vs Crypto Custody
Polygon Labs Chief Legal Officer Jake Werrett addressed the U.S. House Committee on Financial Services regarding digital asset regulation and property rights.
Key points from the testimony:
- Focus on constitutional right to custody personal assets
- Discussion of property control and ownership principles
- Future regulatory framework for digital assets
This follows Commissioner Kristin Johnson's earlier proposal outlining multiple approaches for U.S. digital asset handling through:
- Congressional action
- Private sector governance
- Judicial system involvement
Custodying ones assets is a core principle of our constitution—to control and own your own property. This week, Polygon Labs CLO @JakeWerrett testified to the U.S. House Committee on Financial Services on the future of digital assets:
GMT Pay Launches on Polygon, Enabling Real-World Purchases with STEPN Earnings
STEPN has officially launched GMT Pay on the Polygon network, allowing users to convert their earned GMT tokens directly into real-world purchases. This release follows the January 2023 waitlist announcement and marks a significant milestone in connecting move-to-earn rewards with practical utility. Key Features: - Direct conversion of GMT tokens to purchases - Built on Polygon network for efficiency - Integration with STEPN and STEPN GO platforms Users can now seamlessly transition from earning tokens through physical activity to using them for everyday transactions.
Polygon and Cypher Card Enable Seamless Crypto Payments
Cypher's card is advancing crypto adoption through seamless payment integration on Polygon's network. This builds on Polygon's existing partnership with Stripe, which enables USDC payments at over 3M locations with a competitive 1.5% fee (vs 2.9% for traditional cards). The stablecoin market reached $230B in February, partly driven by Stripe-Polygon integration. The platform allows businesses to receive fiat while customers pay in crypto, bridging traditional and digital finance. - Lower transaction fees than traditional systems - Real-world utility for crypto payments - Growing regulatory acceptance - Widespread merchant adoption
Polygon Community Treasury Announces Final Call for Season 2 Grant Applications
The Polygon Community Treasury is distributing 35M POL tokens in Season 2 grants, part of a larger 1B POL allocation over 10 years. Key tracks: - Direct Grants Track: 20M POL for all builders - Grant Allocator Track: 15M POL managed by ecosystem teams Important deadlines: - Direct Track closes April 15 - Various allocator deadlines from April-June - Some tracks ongoing through @gitcoin, @QuickswapDEX, @iotex_io Focus areas include AI, DePIN, and memecoins. Builders can apply at [polygon.technology/grants](http://polygon.technology/grants)
Polygon Support Added to CoinTracker for Tax Season
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Hyperlane Announces HYPER Token Airdrop for Polygon Users
Hyperlane has announced its HYPER token airdrop with significant allocations for Polygon ecosystem users: - Polygon mainnet users eligible for ~1.8M HYPER - Polygon zkEVM users eligible for ~707K HYPER - Zeroway users qualified for over 1M HYPER Pre-registration deadline is set for April 13th. The airdrop represents a milestone in Hyperlane's expansion strategy across multiple blockchain networks. [Check eligibility and pre-claim here](link)