Crypto companies move to Greener Pastures due to Overbearing Regulations
▻https://hackernoon.com/crypto-companies-move-to-greener-pastures-due-to-overbearing-regulations
Recently, I wrote about the shutdown of stablecoin, Basis. Like many other projects, Basis was impacted by the #sec’s latest guidance. But instead of trying to wade through the bureaucracy and sacrifice their principles, Basis’ founders decided to abandon the entire project and walk away from the $133 million they had worked hard to raise from investors.Commenting on the increasingly stifling regulations on crypto-related businesses, I suggested that companies should go where they’re wanted. Surprise, surprise, that’s exactly what we’re seeing more projects do.Just recently Lamassu, the world’s oldest #bitcoin ATM manufacturer, moved its business to Switzerland in order to operate in a more crypto-friendly regulatory environment. But this move had nothing to do with the SEC’s attempts to (...)