“If you are serious about your project – moving to a new country probably won’t be a bad thing,” he said, when as examples of “new countries” he mentioned Dubai, Bahrain and France. According to him, in the US “most regulators at least claim to invite people to talk to them, but I’m not sure how much access they really allow to people – especially entrepreneurs with new projects with no reputation.” He warned entrepreneurs in the country that “you definitely want to get advice from experts – basically , lawyers who understand your product – to ensure that he does not step on any red lines.”
More in-
The words were said after the US in recent days showed a trend more clear than ever before against crypto. Last week, the Securities and Exchange Commission (SEC) reached a compromise with the Kraken crypto exchange, which required the latter to stop offering the most popular crypto services – interest-accumulating ‘savings’ – and to pay a multi-million dollar fine; and this week New York’s Department of Economic Services sued crypto firm Paxos to prevent it from selling Binance’s dollar-pegged currency (BUSD). Each of these events led to significant declines in cryptocurrencies just as they appeared to be starting Recover from the 2022 bankruptcy row.