US Falling Behind in Bitcoin Movement, Cathie Wood Warns
During Fortune’s Most Powerful Next Gen conference, Cathie Wood, the founder of ARK Invest, expressed her belief that the United States is falling behind in the bitcoin movement due to its regulatory framework.
Wood highlighted the shifting center of gravity in the cryptocurrency industry away from the U.S., citing the example of Coinbase (COIN), a crypto exchange that recently obtained licensing in Bermuda and is also seeking to expand its operations in Singapore.
Wood emphasized the importance of the U.S. taking a leadership role in this movement, but lamented that current regulations are causing the country to lag behind.
