Crypto in the United States: The outlook diverges

In the United States, crypto companies face enormous regulatory challenges. All players in the crypto market agree: the future still remains unclear. With this in mind, two major figures in the cryptosphere spoke on the future of blockchain and cryptocurrencies in the United States.

“Crypto regulation in the United States remains promising,” says Joseph Lubin

Joseph Lubin is both the co-founder of Ethereum and the CEO of ConsenSys. Key player in the crypto market, he shows himself optimistic despite regulatory challenges in the United States. “The United States will adopt blockchain and cryptocurrency protocols”, he declared during a recent interview on CNBC. According to him, the process of adoption of crypto assets in the United States will be carried out in the same way as that of previous technologies (like the Internet).

Despite strong optimism, Joseph Lubin opposes the position of SEC Chairman Gary Gensler. The latter considers crypto tokens as securities and Ethereum as a commodity. Despite ongoing SEC legal disputes involving high-profile crypto firms like Binance, Coinbase and Ripple, Lubin also hopes that the United States will implement successful and fully consistent crypto regulations.

“Common sense will prevail and the United States will take the lead in adoption and regulation,” he maintains.

Brad Garlinghouse instead encourages crypto companies to flee the West

For his part, the Ripple CEO presents a much different perspective when it comes to the United States as a location for crypto businesses. Brad Garlinghouse goes so far as to say that the United States is among the worst regions for crypto start-ups and blockchain companies. It thus encourages crypto companies to develop their activities in other, more promising countries. He cites in particular:

• Singapore,
• the United Kingdom,
• the United Arab Emirates,
• Switzerland.

Given the different perspectives, the future of crypto regulation in the United States still remains uncertain. Some industry leaders align with Brad Garlinghouse’s opinion. They even threaten to leave the country. Others, supporters of Joseph Lubin, hope that the country will become a leader in the global crypto market. To be continued…