At the Wyoming Blockchain Symposium, panelists emphasized the urgency for the United States to establish clear regulations for the cryptocurrency market to avoid falling behind other regions, particularly the European Union (EU) and Asia-Pacific (APAC). Sylvia Favretto from Mysten Labs expressed confidence that the U.S. still has a chance to catch up but highlighted the need for immediate legislative action. Ripple's Stuart Alderoty cautioned that missed opportunities could lead to a more hostile regulatory environment, ultimately causing the U.S. to lose ground to other jurisdictions. The discussion also underscored the potential challenges posed by the upcoming midterm elections, which could complicate the process of achieving a cohesive and pro-crypto regulatory framework as lawmakers might focus on their re-election campaigns. Joe Doll, from Magic Eden, noted that legislative gridlock could impede progress in crypto policy. Overall, the panelists called for proactive steps to create a favorable regulatory landscape in the U.S. crypto market before it is too late.

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