Experts believe that it is a better situation for decentralized crypto exchanges to emerge as the best option for the US crypto market, over centralized crypto exchanges.
At present, the crypto investors in the US are not feeling well to go with any centralized crypto exchange, as the country’s securities regulatory body SEC is continuously suing the crypto firms one by one. This week, Coinbase & BinanceUS sued by the SEC agency, despite being registered with the corresponding regulatory bodies.
Experts believe that decentralised crypto Exchanges & Decentralised Finance (Defi) concept-based protocols may be the best choice for American crypto traders, as decentralized crypto exchanges are outside the authority of the SEC, or we can say that the SEC body is busy taking action against centralized crypto exchanges.
According to experts, Defi platforms need to spread awareness & push promotional activities, so that people can understand how they can trade with their crypto assets without any tension/fear of the SEC’s regulatory enforcement actions.
Crypto 2022 & Bankruptcies
In 2022, the crypto industry saw a very big downfall in the prices of crypto assets. The usual bear market panic forced the investors to get out of the market.
Last year, several crypto companies went bankrupt. 2022’s top names in the bankrupt crypto firms list includes Celsius, Voyager Digital, BlockFi, FTX, and Alameda Research.
After the downfall of the high-profile crypto firms, the majority of the crypto investors shifted their crypto trade activities to decentralised crypto trade platforms.
Now the current regulatory uncertainty is another opportunity for the Defi sector to grab a huge user base from the US market, without any tension.
Notably, over the last week, the crypto trading on the top Defi crypto trade platforms surged by nearly 400% and it is expected that it will surge more in the upcoming months.
Read also: Ukraine to develop clear crypto regulation framework like MiCA
