Bitmex Group CEO: US Crypto Crackdown May Drive Top Talent to ‘Markets With More Regulatory Certainty and Lower Risk’
Unlike in the United States where authorities are cracking down on the crypto industry, the regulations governing the industry are “more clearly defined and commercially viable in markets like Hong Kong, Singapore, and the UAE,” Stephan Lutz, the group CEO and CFO of the crypto exchange Bitmex, has said. U.S. Crackdown Driving Away Talent In his written answers to questions from Bitcoin.com News, Lutz hailed regulatory frameworks such as the one adopted by Hong Kong’s Securities and Futures Commission because it “provide[s] standards for digital assets that are crucial for this fast-growing asset class.” Concerning the likely impact on innovation of the United States government’s so-called Operation Choke Point 2.0, the Group CEO concurred with many crypto proponents who argue that such a clampdown will only drive away talent. The crackdown has and will indirectly benefit Hong Kong which according to Lutz is attempting to make itself “the epicenter of the crypto industry in Asia.”