Balaji Srinivasan: US Not Dominant Anymore In Crypto Market

Also Read: US Congressman Files Bill To Fire SEC Chair Gary Gensler

In the recent times, top US based crypto exchange Coinbase announced plans to expand its presence beyond the United States. This came after its repeated attempts to obtain clear path to regulatory framework from the U.S. Securities and Exchange Commission (SEC). Meanwhile, he feels that US administration’s plans to have a CBDC-led surveillance environment would not have the same effect globally as it had earlier.

“CBDC Surveillance State In The US”

The crypto investor responded to a tweet by Josh Swihart about the US lawmakers’ plans to “diligently working to shut off all crypto from the mainstream, including Bitcoin.” Srinivasan, however, explained that it would not have a widespread effect on the Crypto Market as Washington DC does not have a global veto over tech anymore. Interestingly, the back to back lawsuits against top crypto exchanges Coinbase and Binance draw parallel to the US government’s string resistance to the digital assets ecosystem.

Yet, despite the many obstacles and legal attacks, Bitcoin price is still 54% higher when compared to the closing price in 2022. This makes the case even more stronger to migrate to new crypto hubs like Dubai and Singapore.

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Also Read: SEC’s Strongest Argument In XRP Case At Risk Amid Hinman Docs Disclosure

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