TechFlow news — On January 26, Nick Tomaino, founder of 1confirmation, posted that crony capitalism has become the biggest threat to the development of the U.S. crypto industry. While Ripple continues to face criticism within the industry, many individuals and companies are actively lobbying the incoming administration behind the scenes to influence policymaking for their own advantage.
Tomaino emphasized that while clear regulatory guidance is important, it must center on promoting free industry growth, and avoid destroying the U.S. crypto sector by favoring projects that are skilled at political maneuvering.
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