American crypto companies might move out of US

Various crypto companies in the US have been at loggerheads with the Securities and Exchange Commission for a long time.

Gary Gensler Self Regulatory

This controversy is well known that, while taking legal action against the crypto revolution in the US, Gary Gensler, Chairman of the SEC, at any time interferes with the work of any company, imposes a fine on it, or sues it under any pretext. Gary Gensler has become a villain in the crypto world because of his intransigence towards the crypto industry.

Unfriendly with profit

The SEC has objected to crypto platforms providing facilities like exchange, earning, and staking. Gary Gensler considers such facilities to be unregistered securities. To avoid disputes with the SEC, many crypto platforms are not able to provide attractive facilities to US citizens. Therefore, US crypto users are more annoyed with the SEC.

Attacks altcoins Gary will go of

The only victims of Gary's antics are Altcoin users because Gary has declared bitcoin a commodity, so the SEC says nothing to bitcoin users. But exchanges cannot live without using altcoins. Coinbase is also no exception.

Republicans unhappy with Gary

Recently, Gary had to appear before Republican lawmakers, in which Gary was lambasted for the economic and employment problems that could result from the crypto industry shutting down or moving out of the United States because of the arbitrariness of the SEC. At the same time, Brain Armstrong, the CEO of America's first registered crypto company, Coinbase, which is struggling with the unclear rules of the SEC, has strengthened the claim of Republican lawmakers by saying that it will take its business out of America.

Conclusion-KB

For the development of industry, it is necessary to have an environment for them to flourish, but the SEC presents the opposite problem. It is better to remove Gary Gensler, and bring industry