Originally aired on March 10, 2023

The US Federal Reserve states that it doesn’t want to hinder the growth of cryptocurrencies, but the industry appears to be leaving the US, while $1bn worth of Silk Road Bitcoin may be up for sale by the government. Legal fees are proliferating, too as ambulance chasers target FTX users. However, DAO coins have received legal recognition in Utah.

Is regulatory uncertainty driving cryptocurrency companies out of the US?

• Ripple CEO Brad Garlinghouse claims that there is no clear regulatory guideline available in the US, and that countries such as Singapore and Switzerland are more attractive for crypto companies.
• The Federal Reserve is aware of the situation and emphasises the importance of balance in regulatory approaches.

Has the US Government sold Silk Road Bitcoin?

• The US government seized 50k Bitcoin from Silk Road, and recently moved 9,861 of those coins to Coinbase.
• The Bitcoin was then split between three other wallets, raising suspicions of government sales.