The US is suppressing and driving crypto abroad. More than dozen or so crypto firms already shut down services in the US and/or moving overseas, most in just the past few months

If the US government and regulators are really planning on driving out crypto, it seems to be working. Many crypto firms and platforms have already shut down and others are moving abroad, all of them citing directly the US approach to regulations. This relates to:

1. The SEC enforcement by regulation of fining firms for regulations that they suddenly create on the spot.
2. Uncertainty of which tokens are securities, especially with major disagreement with the CFTC and SEC on the matter.
3. Staking as a service being deemed a security.

Here are the platforms that have shut down or are moving away:

1. Gemini is set to open a derivatives platform outside the US. They were fined for unregistered securities offering this year. The decision is cited as because of "U.S. regulators getting stricter about cryptocurrencies in the world's biggest economy"
2. Bittrex have shut down their operations in the US. They have also been charged with for violating US securities laws. They have cited "it's just not economically viable for us to continue to operate in the current U.S. regulatory and economic environment."
3. Nexo has also exited the US. They state “Our decision comes after more than 18 months of good-faith dialogue with US state and federal regulators which has come to a dead end.”
4. Paxful has completely suspended all operations, unsure if fully shutting down. They said “The regulators still don’t get it and it’s painful to see.”
5. Coinbase has made strong allusions to moving overseas citing many regulatory issues.
6. Kraken, similarly to Gemini have also been charged with securities violations. Both have been forced to shut down related(staking) operations in the US. Binance US and Coinbase have also been charged with securities issuance but have not yet capitulated to regulators. Binance US in particular have an especially hard time and are facing a CFTC lawsuit.
7. Related to Gemini, they also charged Genesis in connection to Gemini(as their Earn Service ). Genesis are now bankrupt, although this is partially the fault of FTX collapse contagion. For very similar reasons, the also-charged BlockFi are also bankrupt.
8. Regulators have also fined Poloniex who have closed their door to the US.
9. Bittfinex trading was already shut down in NY.
10. Custodia Bank was denied Fed bank member specifically on grounds that they intended to offer crypto services. There was also the shady forced closure of Signature Bank by regulators.
11. Beaxy was sued by US regulatory and shut down.
12. Bitzlato, a Hong Kong-based platform, has been effectively shut down, and founder Anatoly Legkodymov was taken into U.S. custody. Their situation is a bit different due to alleged money laundering ties however. Coinseed was also shut down with ties to fraud.

And as a honourable mention, SEC v. Ripple continues, a case that stated before COVID was even a thing.