RATE Group | Asian Investors Call For Regulatory Clarity on Cryptocurrencies in the US
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Asian Investors Call For Regulatory Clarity on Cryptocurrencies in the US

16 Nov Asian Investors Call For Regulatory Clarity on Cryptocurrencies in the US

Posted at 06:40h in Cryptocurrency News by

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Speaking at BlockShow Asia 2019, Proof of Capital managing partner Edith Yeung called out American regulators for leaving blockchain-based ventures in the dark.

These companies are commonly domiciled in Singapore, Switzerland, or Hong Kong because “they have no idea of what is happening in the US. They don’t want to touch it because of the legal tension.”

Some exchanges are in fact leaving the US amid continued regulatory uncertainties. Last month, Poloniex spun out from Circle to form a new exchange that will not allow American customers to trade on its platform. Binance also specifically established Binance US in conjunction with BAM Trading Services, an approved partner of the Financial Crimes Enforcement Network (FinCEN). Binance US is a separate entity from Binance.com, which used to operate in the US.

Rae Deng, founding partner of the Singapore-based VC firm Du Capital, expressed agreement with Yeng from the BlockShow stage:

“We welcome more regulations as a vacuum of…

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