Ever since the cryptocurrency industry came into being, it has found the United States to be one of the most aggressive markets for the industry. Although the cryptocurrency industry continued growing all over the world, it still faced a lot of resistance from the United States.
Despite all the resistance, the cryptocurrency industry did manage to grow in the shadows in the United States. However, the regulatory authorities still showed tremendous resistance and aggression to the cryptocurrency industry.
The most difficult, concerning, and alarming situation came into being for the crypto-verse when Donald Trump took charge of the White House back in 2017. When Donald Trump’s administration came into action, it became obvious that the cryptocurrency industry was going to have the most difficult times surviving.
Even some of the major cryptocurrency firms such as Binance, Coinbase, and Ripple decided that they would relocate. It was mainly because the regulatory authorities and US administration demonstrated tremendous opposition to the crypto-industry.
This is the reason why the cryptocurrency firms were not allowed to operate to their fullest potential. Despite all the pressure and aggression, Binance and Coinbase are currently the top two largest cryptocurrency exchanges in the entire world.
The CEOs of both exchanges expressed their grief over not being able to operate to their full potential. Both of them stated that their exchanges are not given the opportunities as other exchanges operating from countries such as Japan, Hong Kong, and South Korea get.
As for Ripple (XRP), the entire crypto-verse is well aware of how many problems the cryptocurrency went through before making a comeback. Before having a lawsuit filed against it, Ripple was the third-largest cryptocurrency in terms of market capitalization. It had a market capitalization of close to $140 billion but due to the lawsuit, its market capitalization went under $10 billion.
However, with Joe Biden’s recent run of The White House, the situation has started changing for the entire cryptocurrency industry. Now, even the American administration is leaning towards the crypto-verse and is proving to be supportive of it.
Among all other cities in the United States, Miami City has proven to be the most welcoming city towards the crypto-verse. Even the mayor of Miami, Florida has proven as the proponent of cryptocurrencies. This is the reason why major cryptocurrency firms are now moving to Miami, Florida, even when they are within the United States of America.
Just recently, Blockchain.com, a major solutions provider for cryptocurrencies has announced its relocation. The firm has announced that it intends to move its headquarters to Miami from New York. The exchange has announced that it intends to expand its business in the coming years and Miami City would prove to be the best platform to execute that.
The exchange has announced that in the next 18 months, it is planning to hire 300 new employees who will be working full-time for the exchange.