Facebook libra is the latest high profile blockchain project clashing with US regulators who are pressing for development to halt. Lawmakers have continually pressed the tech firm and it’s subsidiary Calibra to freeze cryptocurrency development during hearings in July.

Calibra CEO David Marcus agrees that Libra will not launch until regulators were happy but development will seemingly continue.

Large numbers of cryptocurrency and blockchain companies have been deserting their Stateside operations in recent years. Many claim it is down to confused antiquated legislation and slow response from government regulators.

The Facebook Libra case is a clear example of the troubles all blockchain startups face. Projects sweat in limbo by unclear regulation and lack thereof it. Add to this mixed state rules, such as the New York BitLicense, and many companies are saying no thanks.

It is a troubling issue for the US tech industry which is being left behind. The Land of Opportunity is fast becoming the Land of Missed Opportunity for organizations and citizens.

Problems push far beyond blockchain startups with established industry leaders removing their American markets.