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You don’t have to go far to find a blockchain startup that is flying blind due to a lack of regulatory clarity in the United States. Entrepreneurs and developers share in their frustration of not knowing where the battle lines by which they may operate are drawn. Not only has this stifled tech innovation but it has arguably cost the United States even more in the way of lost blockchain talent that has fled to places like Hong Kong, Singapore, Taiwan, Switzerland and beyond, where their ideas will be welcomed with open arms.
The lack of guardrails has been a source of confusion for US blockchain startups that are trying to bring the industry forward. It has been especially difficult for them to do so in an environment with a US securities law apparatus that is 100 years old. These laws were designed to regulate traditional financial services including banks, credit unions, investment