What Trump Suing BTC-e Means for Crypto Adoption in the US

Last week, the Trump administration’s Department of Justice filed a $100 million civil suit against old-school cryptocurrency exchange BTC-e for providing all kinds of financial services to US citizens without complying with the country’s regulations. A new world is coming, and it may represent a major shift in the makeup of the global cryptocurrency economy.

Crypto businesses are going to hate dealing with US customers

There’s no two ways about it: companies are not going to want to service customers living in the US. The hassle of dealing with regulators is simply too high. Now naturally, this is a major country representing a lot of higher-income customers, and shutting the country off means losing their business. However, the additional financial reporting required, and the threat of major regulatory crackdown, all for one lone country, will probably make it not worth it. The costs and burden necessary just to serve a lone group of customers is likely larger…