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Antonio Juliano, who established the decentralized exchange dYdX, recently voiced an opinion that might shake up the world of crypto innovation. According to him, for the coming half-decade or more, crypto entrepreneurs should set aside their ambitions of breaking into the U.S. market.
On August 25, through an X (formerly known as Twitter) thread, Juliano conveyed that expanding into foreign markets might be more favorable for crypto startups. The less complex regulatory landscapes in other countries could allow these startups to achieve rapid growth and widespread user acceptance without the regulatory complexities they'd face in the U.S.
This advice, Juliano clarified, was more geared towards nascent projects rather than established crypto ventures.
Highlighting the present scenario, Juliano emphasized that crypto has yet to achieve mainstream adoption. For him, achieving significant long-term growth in the sector is paramount. But the ambiguous regulatory environment in the U.S., notably the uncertainties surrounding the oversight roles of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, makes this growth challenging.
Juliano's vision is straightforward. As the U.S. ponders on crypto guidelines, the crypto industry should solidify its base internationally. This approach would then allow these startups to return to the U.S. equipped with the strength of expansive user communities.
However, not everyone shared this sentiment. Brian Armstrong, the top executive of Coinbase, feels optimistic about the U.S. crypto scenario. He countered that he anticipates the U.S. atmosphere becoming more favorable as soon as possible, potentially even next year. He further expressed confidence in the U.S., stating that despite setbacks, it would eventually pave the way for innovation and growth.
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