21Shares' "State of Crypto" report says global regulatory shifts and their implications for the industry have created “jurisdictional competition” among emerging crypto hubs.
The crypto exchange-traded products (ETPs) service provider 21Shares released the eleventh version of its “State of Crypto” report on Jan. 28, which described the impact of forthcoming regulatory changes and their impact on local crypto scenes, among other insights.
According to the report, it is clear that crypto is “alive and thriving,” however, there is an increasing “jurisdictional competition” in a global race to secure talent in the industry and create hubs.
This can be seen through various regulatory actions set into motion in the last year and intended to materialize in 2024. The United States and the European Union were mentioned as two places that could potentially be “risking their lead” in the industry.
