Since its inception, cryptocurrency has been under the radar of regulatory bodies. And we can’t say it is for no reason. We have seen ample cases of crypto-based fraud. Even the most promising ventures and their leaders have marred this domain with hoaxes. So it is obvious that nations are cautious about the movements of their crypto companies.
Why are cryptocurrency companies considering relocating from the US?
The US-based digital payments firm recently established a new headquarter in El Salvador. When this happened, many assumed that Strike wouldwill follow in the footsteps of Bittrex, which exited the US markets due to regulatory uncertainty.
But in their latest news release, the company said that they will stay in the US for now. However, this does not rule out the possibility of moving the operations elsewhere. At the Bitcoin 2023 conference in Miami Beach, Strike CEO Jack Mallers informed everyone about the El Salvador headquarters.
In his speech, Mallers praised the Bitcoin-friendly environment of El Salvador. He emphasized on SEC’s hostile attitude towards Brian Armstrong, the CEO of Coinbase. Like Strike, Coinbase is also thinking over the possibilities of moving out of the US, as stated by the latter’s CEO.