Raoul Pal, a former Goldman Sachs executive, predicts that in face of the US's stern regulations has warned that top US-based crypto firms are planning to move out to locations with taken a more lenient stance on cryptocurrencies. This follows a similar financial exodus in the past where many American banks left for London in search for lighter regulations.

Among those to move may be Coinbase and Circle, both well-known players in the industry, with Paris and London a likely destination for those companies. Pal has especially pointed out the UK as a great location for both companies as the country has made more positive statements about cryptocurrencies as well as having friendships with many nations around the world.

The US has certainly been a formidable force in the cryptocurrency space. Even with an ever-growing number of regulations that have stifled the market, many of the largest and most influential digital asset companies and exchanges are based in the US, such as Coinbase and Gemini. Furthermore, tokens like Bitcoin (BTC) and Ethereum (ETH) hold the largest market capitalizations and their heaviest trading activities, by far, happen in the US.

However, Pal sees this state of affairs changing, as other countries may provide better opportunities for smaller crypto firms who, because of harsh US regulations, might not be able to survive and grow. These companies in need of a breather may enjoy the easier regulations that come with other substantially friendly nations.

Either way, cryptocurrency may see a shift in power if Pal's predictions come true. Regardless, it is certain the US is no longer the only flag bearer in the space - other countries have, and will, continue to make great contributions to both the industry, as well as its digital assets. The decentralisions nature of cryptocurrency is what's seen as an obstacle for the law enforcement and regulators, which may lead to a reshuffling of power from the US.



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