The greatest threat that regulation poses to cryptocurrencies is not the collapse of another cryptocurrency exchange or the theft of many millions of dollars. At the very least, that is what Patrick Hillmann, the chief strategy officer at the largest crypto exchange in the world, Binance, said on Tuesday. Hillmann stated that U.S. cryptocurrency laws are becoming increasingly stringent and shortsighted, which might cause some serious crypto market turbulence or possibly suffocate the growing industry if it persists.

While speaking regarding the ongoing crypto crackdown, Hillmann was quoted as saying:

The U.S. has always been a place that has really fostered great innovation. Unfortunately, I think we’re seeing now is going to come at a real cost [to investors] over time.”