Crypto industry and SEC clash over regulation and innovation in the US.
TL;DR Summary
The co-founder of DeFi protocol 1inch Network, Sergej Kunz, has warned that the SEC's enforcement actions against Coinbase and Binance.US could lead to a major exodus of Web3 and cryptocurrency service providers from the US. Kunz believes that regulatory uncertainty in the US could hurt the industry and is pushing companies to consider moving to other countries. He also highlighted the positive regulatory frameworks being established in Europe, Switzerland, and the UAE, which are putting them far ahead of the US when it comes to DeFi regulations.
- SEC is killing innovation in the United States — 1inch co-founder Cointelegraph
- Gensler: Crypto firms know exactly how to register, they just don't want to Blockworks
- Former SEC Official to Crypto Owners: 'Get Out Now' U.Today
- Rep. French Hill: We have confusion in the marketplace on digital asset regulation CNBC Television
- U.S. lawmakers and crypto firms push back against SEC 'regulation by enforcement' Kitco NEWS
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