North America is on the verge of losing the crypto industry

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1 year ago

North America is the main trade location, however, owing to heavy political pressure, the banking industry there is failing and the cryptocurrency companies are leaving.

Coinbase and Kraken are leaving the US; Binance is departing Canada.

Binance is ceasing operations in Canada as a result of differences with the new rules established to control the country's cryptocurrency market. BinanceUS may possibly be shut down in the USA as a result of pressure from the SEC. It seems obvious that neither Kraken nor Coinbase will be willing to move to Canada after Binance's decision, given that they have already made plans to leave the United States. The three largest crypto industries in the world will depart as a result.

El Salvador has much lower odds

A nation using bitcoin is El Salvador, which is in North America's Latin American region (Latin America extends into North America from Mexico to Panama). El Salvador has a lot of promise, but no significant cryptocurrency sector has expressed any interest in it because there isn't room for the development of altcoins or shitcoins (DeFi, CeFi, SocialFi, GameFi, etc.) because El Salvador only supports Bitcoin.

Low prospects in the rest of North America

The turmoil and uncertainty are too considerable in the rest of North America to give them much weight. The Bahamas (where FTX was founded) is also a suitable territory, but the SEC can request extradition on any pretence. Cuba, on the other hand, is a good territory but will be disputed there due to its animosity towards the US. In North America, the possibilities are often slim.

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