1inch Network co-founder Sergej Kunz believes that the SEC’s enforcement actions against two centralized exchanges may have a negative impact on the growth of Web3 in the United States. I share Brian Armstrong’s opinion that the SEC is killing innovation in the US and all the companies there are thinking about moving to another country.
Europe’s adoption of Markets in Crypto Assets (MiCA) legislation to create solid regulatory standards for the cryptocurrency ecosystem contrasts with the lack of such standards across the Atlantic, where Web3 companies and advocates continue to call for greater regulatory clarity.
Additionally, Kunz added that events like the FTX debacle show that there are risks in trusting a centralized party to hold their funds or assets.