Crypto industry leaders warn that the US is falling behind more progressive regions, particularly in Asia. They highlight six key areas that need immediate attention to stay competitive in the global crypto market.
- Talent development: The US must invest in blockchain training, expedite visa programs for foreign developers, and foster public-private partnerships to retain talent, says Anthony Georgiades.
- Banking support: Companies face challenges accessing banking services. Glue blockchain founder Ogle notes that crypto businesses struggle to operate in the US due to banking restrictions.
- User experience: Erik LaPaglia from Propy emphasizes the need for simpler blockchain interfaces to improve adoption by the wider public.
- Central Bank Digital Currency (CBDC): Despite Donald Trump’s opposition, many believe the US must explore CBDC to keep pace with other nations.
- Public-private collaboration: Industry leaders suggest enhancing government-private sector partnerships, as seen in Singapore’s successful blockchain initiatives.
- International leadership and regulation: The US should work with other nations on blockchain standards and establish clear regulatory frameworks, similar to the EU’s MiCA, to remain a global leader in the space.