According to the forecasts of Ark Invest, the United States may lose its status as a technological power in the coming years due to its tough policy towards the cryptocurrency market.
Thus, Ark Invest analysts have joined those businessmen and the expert community who periodically criticize the American leadership and urge it not to increase pressure on the industry, but, on the contrary, to create conditions for its development.
Yassin Elmanjer of Ark Invest, said the US will lose its lead to the United Arab Emirates, South Korea, Australia and Switzerland. These states contribute to the growth of the blockchain industry and the spread of digital currencies.
The analyst’s note says that the wave of bankruptcies of crypto companies and the fall of the market have negatively affected the attractiveness of this sector for American institutional investors.
The lack of a regulatory framework for transactions with digital currencies also prevents the entry of large capital into the cryptosphere. The US government needs to speed up the problem of market regulation. Otherwise, the majority of blockchain enterprises will leave the country, Yasin Elmanger noted.