Most of world’s biggest crypto companies are based in the U.S., though some industry participants are worried that increasing regulation will spur an exodus.
Crypto investors may be hoping their investments go to the moon but more than half of the world’s largest crypto companies are U.S. based.
The most-valued crypto and crypto-adjacent companies in the world are exchange and financial platforms Coinbase COIN, -3.49% and Robinhood HOOD, -5.08%. The Biden administration also called on Congress to quickly pass new legislation that would require stablecoins, digital assets pegged to fiat currencies such as the dollar DXY, +0.50% or euro, to be issued by insured banks.
Crypto watchers highlighted the situation in China, where several crypto companies moved their headquarters out of the country because of Beijing’s crypto ban. SEC Chairman Gary Gensler has said the U.S. has no plans to ban cryptocurrencies outright but does see regulation as prudent to protect prospective and extant investors.
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