Binance CEO Changpeng Zhao has urged other countries to \"work harder\" in order to remain attractive for businesses now that the U.S. is embracing crypto.
This comes after American VC behemoth Andreessen Horowitz (a16z) decided to shut down its London-based office, according to a report by the Financial Times.
The VC firm, which was founded by Marc Andreessen and Ben Horowitz, is shifting its focus away from the UK to prioritize the US market.
However, the firm is not giving up on the UK, claiming that it is ready to \"help\" the country with its crypto efforts.
Zhao has seemingly suggested that other companies could follow suit by refocusing on the US.
The US has experienced a sea of change in terms of its crypto policy over the past week.
As reported by U.Today, the new SEC administration has now made it possible for large banking institutions to custody crypto.
On top of that, a cryptocurrency working group has been established in order to promote the development of the industry.