Binance CEO Changpeng Zhao has urged other countries to “work harder” in order to remain attractive for businesses now that the U.S. is embracing crypto.
This comes after American VC behemoth Andreessen Horowitz (a16z) decided to shut down its London-based office, according to a report by the Financial Times.
The VC firm, which was founded by Marc Andreessen and Ben Horowitz, is shifting its focus away from the UK to prioritize the US market.
However, the firm is not giving up on the UK, claiming that it is ready to “help” the country with its crypto efforts.
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Zhao has seemingly suggested that other companies could follow suit by refocusing on the US.
As reported by U.Today, San Francisco-based enterprise blockchain company Ripple, which had spent several years mainly focusing on its international expansion amid its fight with the SEC, recently went on a hiring spree in the US.
The US has experienced a sea of change in terms of its crypto policy over the past week, with many industry members celebrating what appears to be a new era.
As reported by U.Today, the new SEC administration has now made it easier for large banking institutions to custody crypto by ditching the extremely controversial SAB 121 rule
On top of that, a cryptocurrency working group has been established in order to promote the development of the industry.
The US could be also inching closer to creating a trailblazing national cryptocurrency reserve, which was unthinkable just a year ago.
Moreover, the SEC is expected to approve a slew of new cryptocurrency ETFs this year, further pushing the industry into the mainstream.
