"Yes, the US is busy being aggressive towards crypto."
Chamath Palihapitiya is a seasoned venture capitalist who has invested in companies like Slack and Yammer and is a long-time proponent of the cryptocurrency Bitcoin (BTC).
He who used to work at Burger King when he was a teenager was also a senior executive at the giant company Facebook.
While in a recent interview, Palihapitiya said that crypto is dead in the United States (US) following Securities and Exchange Commission (SEC) Chairman Gary Gensler often blaming digital assets as the cause of bank failures.
Although Palihapitiya expressed his frustration with the current state of the crypto market, he is still a firm believer in the potential of BTC and other digital assets.
Even so, the future growth of the crypto market may occur in Europe or Asia and not the US, comments Financial Services Committee Chairman Patrick McHenry who once criticized Gensler while testifying before Congress.
He added that the SEC, which often imposes actions against crypto exchanges for not complying with the law, should know that digital assets have the potential to grow globally.
Following the aggressive action by the SEC, most crypto exchanges such as Coinbase and Bittrex intend to leave the US.
This is because the following crypto exchanges were found wanting to join the world of financial services a long time ago, but they still cannot ensure full compliance in the absence of clear laws related to digital assets.
