American regulators are dragging their feet when it comes to cryptocurrencies — and it’s holding the U.S. back from becoming a world leader in regards to the nascent technology.

This opinion was expressed by Ripple CEO Brad Garlinghouse and TechCrunch founder Michael Arrington at TechCrunch Disrupt San Francisco.

According to those two cryptocurrency proponents. the regulatory uncertainty in the U.S. is forcing blockchain startups to set up shop in more friendly environments. Arrington knows this, given that he his $100 million XRP fund has been primarily investing in overseas projects.

As reported by the conference’s hosts, Arrington continued to not mince words.

Of course, some might agree that it’s increasingly harder to rely on the U.S. government to effectively regulate anything — especially something with the potential to disrupt and undermine central banks and governmental authority.

What do you think about the regulatory environment regarding cryptocurrencies and blockchain technology in the United States? Let us know your thoughts in the comments below!