Bill Morgan and Paul Grewal sounded alarms about the tightening regulatory grip in the U.S., highlighting the profound implications of Gary Gensler's stringent SEC regulations on the entire U.S. crypto landscape.

A recent study by Coinbase unveiled a significant 26% reduction in the U.S.'s crypto developer market share since 2018, signaling a noteworthy industry shift.

In response to these concerns, industry experts are advocating for a reevaluation of U.S. regulations to uphold the country's lead in global technology and prevent further decline in innovative capabilities.