- Bill highlights that strict SEC regulations under Gary Gensler impact the entire U.S. crypto industry.
- Coinbase (NASDAQ:COIN) report shows the U.S. has lost 26% of its share of crypto developers since 2018.
- Experts urge the U.S. government to reassess regulations to retain global technological leadership.
Bill Morgan and Paul Grewal recently took to X platform sounding alarm over the increasing regulatory scrutiny in the U.S. These concerns stem from the strict regulatory approach taken by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.
I warned you all in March 2021 what Gensler would do. You all thought the attack on Ripple and XRP wouldn’t touch you. He acted against all of crypto. https://t.co/OIuJA6kbQ5 pic.twitter.com/YmyXBXGCDv— bill morgan (@Belisarius2020) June 13, 2024
Bill Morgan, in his tweet, reminded the community that he had warned about Gensler’s actions as early as March 2021. He also expressed frustration that many believed the crackdown on Ripple (XRP) wouldn’t affect the broader crypto market. Morgan asserted that the crypto industry has felt the impact of Gensler’s actions.
Morgan’s concerns are echoed by Paul Grewal, who …
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