Andreesson Horowitz, chief executive of a16z investment firm, thinks the US has lost its dominance in crypto.
Horowitz thinks the US is slowly losing its dominance in crypto. He attributes this to increased regulatory pressure.
Comment from Andreesson Horowitz on US Approach to Crypto
Andreesson Horowitz, chief executive of a16z investment firm, pointed to increasing regulatory pressure in the US. He added, however, that companies are looking for new locations rather than the United States. Thus, Horowitz says, the United States has lost its dominance in crypto.
Andreessen Horowitz warns that regulatory pressures in the US crypto industry could cause America to lose its lead in the digital asset space. In the latest chapter of its “Crypto State” report, the investment firm notes that the rapid rise in US digital asset regulations has dampened crypto-related activity in the country. According to the report, while the country was home to about 40 percent of crypto developers in 2018, that proportion has steadily declined over the past few years, dropping to less than 30 percent last year.
Additionally, the portion of traffic from US-based users to crypto-related websites decreased in the third year. These declines may be influenced by the drop in digital asset prices, as well as the fact that Web3 is gaining global attention.
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