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US 'way behind' on crypto regulation: Dragonfly partner
Dragonfly Capital Partners' Haseeb Qureshi recently joined Bloomberg's "The Close" to discuss the current state of crypto regulation in the US. Qureshi emphasized that the United States is significantly lagging behind other countries when it comes to establishing clear and comprehensive regulatory frameworks for cryptocurrencies.
According to Qureshi, the US regulatory environment is creating barriers for innovation and competitiveness. While nations across Europe and Asia are advancing with crypto-friendly rules, the US is struggling to keep up. This lack of regulation clarity is not only affecting businesses within the US but also encouraging them to move operations overseas where there is more regulatory certainty.
Qureshi highlighted the need for the US to develop a cohesive strategy that will promote growth while also protecting investors and consumers. He noted that without such a framework, the US risks losing its competitive edge in the rapidly evolving crypto landscape.
He also pointed out that the complexity of existing financial systems, referred to as the "unraveling spaghetti," is an opportunity for the US to rebuild and innovate with blockchain and digital currencies.
This article has been published in bloomberg.com via Yahoo News.
