2 min video \u2014 America have been the tech global leaders but they seem to be slipping behind\u2026\u2026The attraction of doing business in the US is obvious, being the biggest economy globally, and there still exists a very \u2018can-do\u2019 attitude. However, if you are running a regulated business or, even worse, you do not think there is the necessity to be regulated, but the Americans think you do, then you potentially face the double challenge of both State and Federal laws.For the last 20 or 30 years, California\u2019s Silicon Valley has, without a doubt (largely due to the tremendous pool of talent and access to capital) led in innovation and technology. Global success stories such as Google, Facebook, Apple, CISCO, Oracle, Hewlett Packard, and Intel, to name a few, have transformed business and society across the world. Unfortunately, however, it seems there could be a possibility that the US is being left behind as its regulators fail to embrace the new Digital economy of digitising tangible assets, i.e. equities, debt, real estate, commodities, etc as well as intangibles such as loyalty schemes, IP and structured data, which offer alternative investment opportunities together with a way to improve the efficiencies of traditional financial markets.We have already seen the digital exchange, Kraken (now launching a crypto bank) move from New York to the more digital-friendly state of Wyoming. More recently, Ripple is reported to be considering a move by leaving the US and relocating to Japan, Singapore, Switzerland, or London. Also in the news, the three founders of BitMex (another digital exchange) face criminal proceedings. Hence it would appear the potential personal cost of doing business is very high in the US, let alone dealing with the various State and Federal regulations. The chart below illustrates a selection of fines and penalties\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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