Regulation and brain drain
I truly believe that 2019 will be the year of legislative clarity for crypto. Why? Because unless governments are completely asleep at the wheel, they are starting to notice how postponing it, is starting to hurt human capital.
It's no secret that plenty of companies have moved their operations to friendlier countries, and Binance is a prime example of this phenomenon. But we can't be naive enough to think that it's not happening more often, just at different scales.
It's very much undeniable that we are living in an tech driven attention economy, and those who speculate on the safer bet are quick to recognize the power shift. Today a company like Facebook as more reach and more power than a newspaper, but nobody expected that to be the case just a decade ago.
It's because of this reason that I hope that countries, that big economies don't make the mistake of closing the doors of opportunity for their people. I realize, because I'm not blind, that the crypto space is still filled with scams and thus the task of cleaning house sounds impossible, but that's just because we are still very early, and our laws are failing to work for this new digital era.
If, and I do say if, countries like the US don't make it a priority to get legislative clarity, the main concern won't be the lack of institutional investment, which is the chant people have learned in the last year, but the exodus of entrepreneurship and the possibility of being left behind.
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To be honest I want that US falls behind so other smaller countries with smaller economies can position themselves better as a crypto land for investors. Given that I've always work for companies from the US I won't mind them move closer, but it is just might opinion.
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Absolutely agree as human capital has been a large challenge to most developed countries given their demographics. The addition of the immigration issues at hand could put limitations to the potential growth of small business which are at the foundations of the economy.
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@meno, Yes, regulative clarity is needed because it will going to bring Institutional Investors and when more capital will enter into the market then security will going to expand, which is lacking to some extent in current phase. Stay blessed.
In my country there is no legislation at all about blockchain, so,I hope this brings in some big blockchain companies, we really need it since Portugal is little poor in tech development... most of our engineers go to other countries... US already has Silicon Valley, I hope another country gets the Crypto Valley... In the end it doesn't matter tbh... Programmers, entrepreneurs, developers, etc... will move to wherever the tech capital is...
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