Long considered to be a hub for entrepreneurship, Miami has also made a name for itself as a hotbed for cryptocurrency adoption. Not only does the city regularly host events like Quantum Miami and the official annual Bitcoin conference but its government also has consistently shown a friendly disposition to crypto. Now, financial expert Brook Taube believes the region has a pivotal role to play in the crypto regulation debate.

As a serial entrepreneur and investor, Taube has also become closely familiar with the entrepreneurial ecosystem in the United States. Having recognized San Francisco as “the cradle of the AI revolution”, he now believes that Miami is likely to play the same role for crypto in the United States.

“The United States startup ecosystem is going through a growth phase in which new hubs are emerging every year,” says Taube, a vocal advocate for entrepreneurship and responsible technological development. “I don’t believe that many regions can currently compete with Miami when it comes to crypto, and I’m sure that the city’s position as a leader will continue to solidify over the next few years.”

When Mayor Francis Suarez unveiled the 3,000-pound Miami Bull in the middle of MDC Wolfson Campus, the move was seen as a daring move that would accelerate economic growth. While the local government’s support for the crypto industry was rewarded by an influx of crypto-related businesses and enthusiasts, the crypto winter already had a negative impact on the local scene.

“Not only has the capitalization of the crypto market more than halved over the past two years but regulatory pressure is also mounting,” explains Taube, who has been keeping a close eye on the SEC’s enforcement actions and the Biden’s administration hostility to crypto. “The Securities and Exchange Commission's decision to sue Binance and Coinbase are just part of a regulatory slalom course that will continue to be routed and re-routed in the years ahead.”

The lawsuits Taube refers to took place in the past few months and have already resulted in sparring between the regulatory agency and two of the biggest names in the crypto space. While different opinions exist on who will win the fight for the future of crypto companies in the United States, one thing is clear: uncertainty is now the law of the land.

“With the pieces now set in motion for a battle we have been expecting for years, crypto hubs like Miami and the greater Florida area will be involved with and impact the trajectory of the cryptocurrency markets,” adds Taube. “Think of politicians like Governor Ron DeSantis and Miami Mayor Francis Suarez, not only have they advocated for crypto adoption but also made it part of their political agendas.”

Mayor Suarez and Governor DeSantis are not the only politicians in the Miami region who have taken a special interest in crypto. Their unique positions mean they are at the forefront of the growing number of lawmakers who have openly criticized the position Gensler’s SEC has adopted over the past few years.

“With both Mayor Suarez and Governor DeSantis now joining the race for the United States presidency, crypto is about to be in the national and global spotlight,” says Taube. “With over 20% of Americans owning crypto, no candidate can risk avoiding a stance on the topic.”