Crypto went to Washington yet again this week. This time, Congress was exploring whether it should pass new laws to govern the industry. Jeremy Allaire, CEO of Circle, which recently moved some operations offshore, told lawmakers at the hearing that uncertainty around regulation is prompting crypto companies to leave the U.S.
His comments echoed an argument made by Kik, which is being sued by the SEC for allegedly selling unregistered securities, a case we discuss more in-depth below. But the regulatory climate clearly isn’t scaring away all crypto companies. I spoke recently with the head of U.S. operations for Bitstamp, a crypto exchange based in Luxembourg that has begun expanding stateside.