US ‘dominates’ crypto startup funding in Q2: Report
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Despite facing regulatory scrutiny in the United States, crypto firms continue to innovate, with nearly half of all capital investments flowing towards U.S. crypto businesses, according to a recent report.
This comes amid the United States Securities and Exchange Commission taking action against a number of U.S. crypto firms.
Most recently, its case against Ripple, alleging that its native token XRP (XRP) is a security, was ruled partially in favor of Ripple on July 13, stating that it is not a security for retail sales.
Cointelegraph previously reported on June 18 that Ripple CEO Brad Garlinghouse believes the SEC is “looking to kill” innovation and the cryptocurrency industry in the U.S.
He argued that its handling of the Hinman speech documents during the Ripple case isn’t about “any one token or any one blockchain,” but more so the overall stance that the SEC has towards the crypto industry.
This comes after the SEC took action against major crypto exchanges Coinbase and Binance only a day apart on June 5 and June 6.
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