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The post US Crackdown Forces Blockchain Firms Out, says Ripple Co-Founder! appeared first on Coinpedia Fintech News
San Francisco has lost its status as the “blockchain capital of the world” due to opposing US government policies and regulatory crackdowns. According to Chris Larsen, co-founder and executive chairman of Ripple. Singapore, Dubai and London have emerged as key competitors as federal authorities forced blockchain operations to relocate overseas. Larsen blames the Biden administration for pushing the industry offshore, while the US Securities and Exchange Commission has sought tougher regulations following high-profile scandals, including the collapse of the FTX digital asset exchange.
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