The US could lose the next big growth engine the country needs if it does not end regulation of the crypto industry and the DeFi segment. This was the view of billionaire Mark Cuban in his blog.
Crypto Businesses make more sense than you think and valuing tokens is easier and makes more sense than you think . They are just businesses like any other , with a few HUGE advantages. My blog post on the matter https://t.co/uICS2H9JGs
— Mark Cuban (@mcuban) June 14, 2021
The United States should not curb crypto innovation, including in the DeFi segment.
The billionaire accused American regulators of driving DeFi projects out of the country.
“This is not only about the spirit of decentralized autonomous organisations, but also about the absolute stupidity of our regulators, forcing some of the most effective and innovative entrepreneurs of our generation to run their business abroad,” the investor explained.
Cuban warned of the risk of losing growth potential if regulation of the industry continues.
“When we look back at the pandemic 10-20 years from now, we will see that in 2020 and 2021 world-changing companies were created,” the billionaire emphasised.
In February, Cuban stated the enormous potential of the DeFi segment over the next 10 years.
In April the billionaire backed Injective Protocol, positioned as the first Layer-2 exchange protocol, in a financing round of $10 million.
In May Cuban invested in the Polygon network and the DeFi dashboard Zapper.
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