{"id":53658,"date":"2025-07-24T04:19:23","date_gmt":"2025-07-24T04:19:23","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53658"},"modified":"2025-07-24T04:19:24","modified_gmt":"2025-07-24T04:19:24","slug":"crypto-entrepreneurs-were-fleeing-america-can-we-bring-them-back","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53658","title":{"rendered":"Crypto entrepreneurs were fleeing America, can we bring them back?"},"content":{"rendered":"

Regulatory uncertainty drove crypto innovation offshore, but new bipartisan leadership and clear frameworks can restore America\u2019s financial dominance.<\/p>\n

Opinion by: Senator Tim Scott and Senator Cynthia Lummis<\/strong><\/em><\/p>\n

The US Congress recently took a major step toward reclaiming the United States\u2019 leadership in financial innovation. We passed, and President Trump signed, the bipartisan\u00a0GENIUS Act\u00a0passed \u2014 a landmark bill that establishes the first-ever federal framework for payment stablecoins.<\/p>\n

It\u2019s a milestone for consumer protection, national security and American competitiveness \u2014 and proof that principled leadership can still deliver real results.<\/p>\n

America has always led the world in finance because it has embraced innovation, rewarded prudent risk-takers and built the most dynamic capital markets in the world. In recent years, that leadership \u2014 particularly when it comes to digital assets \u2014 has been undermined, not by foreign competitors, but by Washington\u2019s own regulatory onslaught.<\/p>\n

A former failed approach<\/h2>\n

The Biden administration stalled financial advancement by using regulation by enforcement instead of a clear regulatory framework, plunging the industry into uncertainty and costing it tens of millions in legal fees.<\/p>\n

The Securities and Exchange Commission \u201crewarded\u201d well-meaning entrepreneurs with enforcement actions, leading to protracted legal fights that entrepreneurs had to wage against regulators instead of focusing on innovation. This failed approach turned innovation in the US into a legal minefield, where the penalty for guessing wrong was not just bankruptcy, but also federal charges.<\/p>\n

Related:\u00a0<\/strong><\/em>US Senate Republicans release draft bill for crypto market structure<\/strong><\/em><\/p>\n

This is government malpractice on a generational scale, and it\u2019s a crisis of our own making.\u00a0<\/p>\n

Other countries have viewed America\u2019s absence as an opportunity to lead. The United Kingdom is working to make its mark in digital assets. Japan \u2014 traditionally cautious \u2014 has created digital asset frameworks in hopes of attracting international business.\u00a0<\/p>\n

Meanwhile, America has yet to formally establish whether many digital assets are a commodity or a security. American companies should be driving prosperity at home, not fleeing to foreign markets like Singapore and Switzerland. Fortunately, the US can still right the ship with a solution as simple as establishing regulatory clarity.<\/p>\n

Prioritizing innovation<\/h2>\n

We released a\u00a0discussion draft\u00a0to help give investors and the digital asset industry the certainty they deserve to ensure this vital industry innovates on American soil. This is a critical step toward advancing market structure legislation, which will shore up the US\u2019s position as a global leader in financial\u00a0innovation.\u00a0<\/p>\n

The digital asset revolution is rewriting the rules of finance, whether or not America participates. We have the ability to be architects of advancement or be bound to the decisions of other countries. The US can continue to be paralyzed by apprehension, or it can remember that the nation was founded on bold and ambitious actions.<\/p>\n

This is the moment that will shape the US financial system for generations to come \u2014 it\u2019s best to not squander it.<\/p>\n

*********************************<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Regulatory uncertainty drove crypto innovation offshore, but new bipartisan leadership and clear frameworks can restore America\u2019s financial dominance. Opinion by: Senator Tim Scott and Senator Cynthia Lummis The US Congress recently took a major step … Crypto entrepreneurs were fleeing America, can we bring them back?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":53660,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3544,7073,3812,5652,10,159,97,7074],"class_list":["post-53658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-bitcoin-news","tag-btc-usa","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","tag-u-s","exalt-entry"],"yoast_head":"\nCrypto entrepreneurs were fleeing America, can we bring them back? - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=53658\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto entrepreneurs were fleeing America, can we bring them back? - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Regulatory uncertainty drove crypto innovation offshore, but new bipartisan leadership and clear frameworks can restore America\u2019s financial dominance. 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