For a longer period of time China was regarded as the pioneer and the biggest crypto friendly nation, but its not the case anymore. The intense crack down from the Chinese government against the crypto related operations have provided countries with the opportunity to surpass China.
As the result of this crack down, The United States of America has emerged as the biggest beneficiary. US tops the list of the countries supporting the crypto mining. The U.S is also the pioneer in brining institutional investors to the crypto market. Moreover, the United States also lead the way of making crypto friendly policies.
Experts are now convinced that U.S is the future hub of crypto market. United States of America to become the crypto and blockchain leader in near future. Over the past couple of months, the country’s financial and regulatory authorities have rapidly embraced decentralized finance, the cryptocurrency sector and the innovative industry of blockchain technology. From mining to regulations and from the inclusion of institutional investors to private investors the country’s ruling regime has given them the free hand to operate in the sector.
However, the authorities have ensured that there must not be any breach in the regulations. However, the biggest and most pleasing new for the community was the statement issues by the Gary Gensler, head of the U. S. Securities and Exchange Commission (SEC), in which he addressed the community and said that the regulators in the U.S will not impose any sort of ban on the crypto currency.
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A large number of crypto and financial experts have said that this statement has changed the dynamics of the crypto market. US is on its way to become the global leader when it comes to becoming crypto and blockchain Leader. Gary Gensler during his session about crypto market in the MIT also said that it does not fall under the jurisdictions of the SEC to implement any sort of ban on the crypto related operations.
The only that leads to imposing ban on the crypto marketplace is through the U.S congress. Since there are multiple congress men and women who are very staunch crypto supporters. It is nearly impossible for congress to pass the bill and impose band on the crypto market with overwhelming majority supporting this act. All these facts and technicalities clearly indicate the crypto trading would only become more famous in the U.S, he further added to his statement.
Recently the States like Texas and California passed the legislation in the favor of crypto. New York itself has monitored the installation of Bitcoin ATMs in abundance over the past few weeks. All these signs indicate that U.S will be the hub of crypto market.