Re: SEC asked Coinbase to halt trading in everything except BITCOIN, CEO says
All that SEC decision is really harmful for US market. They will not win against crypto in general but may make life harder for US citizens and business
Indeed. What the US regulatory agency is doing is scaring away crypto companies, businesses, and startups alike. There will be a mass exodus from these entities, leaving US citizens empty-handed in the process. Instead of encouraging innovation, the US is stifling it. So much for the "land of the free, and home of the brave".
With how badly things are turning out to be for the crypto industry in the US, it's likely Hong Kong will soon emerge as the world's next crypto hub. I think China (through Hong Kong) will benefit a lot once crypto companies move their operations outside of the US. The clock is ticking for Coinbase, as the SEC continues to exert pressure against the industry. Who knows what the outcome of the lawsuit between Coinbase and the SEC will be in the long run? Just my opinion
The bull we will experience in the near future can change many things. For example, there may be states that lead the way for crypto to develop more easily. These states can also change many things in the market.
I think there will be positive innovations in the crypto field. People, companies or governments interested in crypto are questioning the decisions taken by the SEC. I don't think it's right for an institution to affect the crypto world so much. This effect will decrease day by day. I think a lot of different playmakers will emerge with the bull run.
For US citizens, I think things will get even more difficult in terms of crypto. Of course, we do not know what the SEC's moves are aimed at. However, I do not think that the country that will lead the crypto market will be the USA. Because the SEC complicates things.