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- 1 Crypto exchange founder thinks new crypto project creators should focus on customers outside the US.
- 2 The regulatory unclarity in the region makes Juliano advise distancing from US customers.
The burgeoning cryptocurrency market gets most of the traction from the United States. It used to be the case before the recent regulatory actions against the companies in the industry. Many crypto companies look forward to shifting their operations offshore and some restrict US users from services. Founder of decentralized exchange dYdX, Antonion Juliano suggests something similar to budding crypto project creators.
In his “serious tweet” on X (formerly Twitter), Juliano came up with the suggestion for “crypto builders” on August 25, 2023. He stated the creators should keep their services away from the customers in the United States. They should try to commence their offerings in the country after five to ten years down the line. This way the new firms would face less hassle and make few compromises on their operations.
According to Juliano, a majority of the cryptocurrency market is set offshore and flourishes out of the US. He noted that the crypto builders move outside and “innovate there” and should they have product-market fit (PMF), they should “come back with leverage.”
While elaborating his wish to see crypto grow over 100x in the future, Juliano added in his tweet that the creators in the crypto industry should work towards creating a “10x stronger product market fit.”
“You don’t need to have perfect distribution to iterate and find strong product market fit”
The big overseas markets have better scope and space for experimenting with such products and there are plenty of such places, he added.
Issues Around Unclear Crypto Regulations in the US
The concerns around regulatory clarity have been an issue for a long time now. But the instances that took place in the past several months reignited the debate from the beginning. The United States Securities and Exchange Commission (SEC) was seen to ramp up enforcement actions against many crypto companies. This saw an increase in intensity following last year’s fiasco within the broader crypto market.
The lawsuit against Coinbase, like major crypto exchanges, was among the boldest moves from the regulator. It shook the broader crypto market initially, however, the market did not react badly following the news.
Many crypto executives find the enforcement actions suffocating for crypto and expect regulatory clarity to be imminent.
In his Twitter (X) thread, Juliano also showcased the optimism for the crypto regulations in the United States. He insisted that crypto reflects American values.
“What could be more American & capitalist than a financial system of the people, by the people, and for the people That is literally what we’re building here.”
Saurav Bhattacharjee is in charge of the Broadcast development team of The Coin Republic.
He has been covering the Metaverse and NFT niche for the past 2 years.
With stellar interviews on his portfolio like Nicehash, Paxful, WallstreetWolvesNFT, Bitholla, Totemfi, EOS.io etc. Saurav has spearheaded the NFT SUPERSTARS AWARD and successfully hosted the first award in 2021.
