Antonio Juliano, the founder of the decentralized exchange dYdX, has proposed that cryptocurrency builders should shift their focus away from serving US customers for the next 5 to 10 years. Instead, Juliano suggests that builders should explore and experiment in other global markets, returning to the US when the time is right.
In a post made on August 25, Juliano asserted that developers should prioritize markets outside of the US due to encountering fewer obstacles, allowing them to concentrate on platform growth and user adoption. He particularly directed his comments towards startups, suggesting that the y could expand more rapidly in friendlier international markets. Juliano stated, "Crypto builders should stop serving US customers for now and try to re-enter in 5-10 years. It's really not worth the hassle/compromise. Most of the market is overseas anyway. Innovate there , find PMF [product market fit] and come back with more leverage."
He stressed that the long-term goal should be the growth of cryptocurrencies by significant multiples over time. Juliano acknowledged the lack of clear regulations in the US regarding cryptocurrencies, citing the ambiguous jurisdiction between the SEC and CFTC. industry To influence US policy, It needs to continue developing and gaining more prominence.
Juliano argued that it's more strategic for builders and startups to focus on adapting their products for overseas markets first and then leverage the influence of a larger user base when re-entering the US market. He mentioned, "Cryptocurrencies don't yet have worldwide usage /product-market fit, which means we don't have much clout in terms of policy yet. We need to have a product that's used a lot, to get users (voters) to say 'wait, I need this.'"
While some in the industry, like Coinbase CEO Brian Armstrong, offered alternative perspectives, Juliano's proposal underlines the complexities surrounding cryptocurrency regulation in the US and the potential benefits of exploring more receptive global markets first.
