According to TechFlow, several cryptocurrency industry leaders said that the U.S. blockchain industry is lagging behind more progressive jurisdictions such as Asia. Fiona Murray, managing director of Ripple Asia Pacific, pointed out that the U.S. "lack of open-mindedness" is driving business overseas.
Industry insiders and executives believe that the United States needs to quickly improve in six key areas to remain competitive: talent development, banking support, user experience, central bank digital currency (CBDC), international cooperation and regulatory framework.
Experts called for strengthening blockchain training in universities, simplifying the visa process for foreign developers, improving banking services for cryptocurrency companies, simplifying blockchain application interfaces, increasing investment in CBDC research and development, actively participating in the formulation of global blockchain standards, and establishing a clear regulatory system.
Several experts stressed that the United States needs a more open attitude, otherwise it may continue to lag behind Asian countries such as Singapore, South Korea and Japan. They suggested that the United States refer to the European Union's Crypto Asset Market Regulation Act (MiCA) to balance innovation and consumer protection and maintain competitiveness in the global blockchain ecosystem.
