FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERSPIX: Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector, the head of one of the pioneer exchanges told an international forum Thursday.
While some US legislators want to see rules for a cryptocurrency market, regulators there have taken a tough line because of fears of money laundering and scams such as the FTX collapse. Former FTX chief Sam Bankman-Fried is due to go on trial in New York in October.“France, Portugal, the United Arab Emirates, Singapore, Hong Kong, London increasingly and interestingly, have all been very excited to take up the slack that the US has created,“ he said.
Before last year's turmoil, Blockchain.com said it had more than 31 million verified clients. Smith said there has since been growth notably in Nigeria, Ghana, Colombia, Argentina and Ukraine.