1confirmation founder: Crony capitalism has become the biggest threat to the American crypto industry

ChainCatcher news, 1confirmation founder Nick Tomaino stated that crony capitalism has become the biggest threat to the development of the cryptocurrency industry in the United States. Although there are constant doubts about Ripple within the industry, many individuals and companies are actively lobbying the new government behind the scenes, trying to influence policy-making to gain an advantage.

Tomaino emphasized that clear regulatory guidance is certainly important, but it must be centered on promoting the free development of the industry, avoiding the destruction of the U.S. cryptocurrency industry by favoring certain "well-connected" projects.