US: positive signs for crypto as SEC throws lawsuits

US regulations create uncertainty for US crypto companies. Positive signals from America are currently rare. But they are there, if only sporadically.

On May 4, the White House published a policy document For standards for "key and emerging technologies". The development of distributed ledger technology (DLT) also plays a role. Specifically, it says: "The Treasury Department's Office of Financial Research leads and contributes to the development of financial frameworks for digital identity, digital assets and ledger technology."

The crypto sector is getting even more wind at its back from U.S. politics from the state of Montana. Governor Greg Gianforte signed a new law on May 2 that is positive for miners. The law says that negatively implementing electricity rates for local mining companies will not be allowed. The same applies to the taxation of cryptocurrencies used as currency.

The crypto sector in the US is currently going through major regulatory upheavals. A strict direction from the Securities and Exchange Commission (SEC) and a possible national mining tax are creating uncertainty in the industry.

Large crypto companies are therefore considering diverting to other financial jurisdictions. In Hong Kong, meanwhile, an opposite course can be seen. There, they are currently embracing new crypto companies.