Asia is now the top region for crypto developers, while the US is losing ground.
The US is Losing Its Grip
A new report shows that North America, led by the US, is no longer the top dog in crypto development. Asia has overtaken the US, and Europe took the lead back in 2016.
- The US has seen a huge drop in its share of crypto developers – a whopping 45% since 2015!
- Asia, on the other hand, has more than doubled its share in the same period.
- This year, Asia is now home to the most crypto developers, with a 32% share, compared to Europe’s 30%.
The US Still Holds the Top Spot… For Now
While Asia has overtaken the US in overall developer share, the US is still the top country by itself. However, even the US has seen a significant decline in developers since 2015, dropping 51%.
What’s Going On?
Experts are pointing fingers at the US’s unclear and sometimes hostile regulatory environment for crypto.
- Many believe that the US needs to create clear and transparent rules for crypto to keep its edge in the industry.
- The US is also losing out on talent, with over 80% of crypto developers living outside the US.
A Call for Action
The report’s authors believe that the US needs to take action to address this issue. They argue that:
- This shift in talent is a “national security and innovation drain” for the US.
- It’s an opportunity for other countries to create jobs and wealth.
The Future of Crypto in the US
The US is facing a critical moment for its crypto industry. The report highlights the need for clear and supportive policies to attract and retain talent.
- The upcoming US presidential election could bring about a change in the government’s stance on crypto.
- The industry is hoping for a more positive approach to regulation.
