Keep Crypto in America

The Securities and Exchange Commission has been cracking down on crypto, setting off warning bells in the U.S. One fear is that regulatory uncertainty will push crypto industry players to avoid doing business in the country. There are some signs that this isn’t mere alarmism.

Crypto lender Nexo announced late last year that it was leaving the U.S. after more than 18 months of “good-faith dialogue with U.S. state and federal regulators” came to a “dead end.” Jeff Dorman, chief investment officer at Arca, told Bloomberg that the new companies that his firm is exploring are “not even bothering with the U.S..” Binance, which is the world’s largest crypto exchange by trading volume, is reportedly looking to end some relationships with U.S. business partners and is taking another look at its U.S. venture-capital investments.

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