Los Angeles has been a center of innovation, entertainment, and technology for quite a while now, and it is also making its own mark on cryptocurrency as well. New York City and San Francisco have received most of the attention in the tech industry, but LA has been crypto-friendly when it comes to policy overall. Whether that has been due to a tech environment, local crypto businesses, or an innovative-friendly policy, the fact is that LA has placed itself at the front of the crypto movement.
Los Angeles, California, has gotten out ahead of the curve with regard to the positive welcoming of crypto and blockchain businesses. Many cities across the United States have been slow to embrace crypto, or have been too slow to arrive at regulations or tax structures for digital assets.
Over the past few years, the policymakers in LA have worked to make entry into the market easier for blockchain startups while providing incentives for transitioning companies or companies that are opening a new office in Los Angeles. Therefore, LA provides an attractive home for firms trying to capitalize on the emerging digital currency market. So, anyone looking for new cryptos set to boom shouldn’t be surprised if that happens in LA.
Cities around the country are starting to see the value of associating themselves with the lucrative and growing crypto industry, and Los Angeles is no different. With countless cryptocurrencies emerging, the region has become the land of cryptocurrency enthusiasts and investors.
The LA area provides a much more relaxed regulatory environment compared to other big US cities, where the fiercely guarded regulations and government powers could dismantle any conversation around cryptocurrency, as it would be viewed as treacherous. For instance, California has recently passed a bill that allows state and local agencies to accept crypto payments.
Los Angeles is not just a friendlier place for cryptocurrency companies, as its geographic location has a wealth of crypto events, meetups, and conferences, attracting leaders, innovators, and investors. The area features an abundance of Bitcoin conferences and panels that touch on blockchain tech and future economics, attracting a plethora of cryptocurrency events featuring eager learners who want to know what the future of finance is. Also, the area contains several key crypto conferences every year, which makes it evident there are opportunities for networking and even collaboration.
As for the policies and businesses that matter for any crypto market, it is the people and their admiration of various opportunities that are most telling about Los Angeles. The diversity of the local tech and startup communities contributes to a creative culture, building innovative mindsets that generate ideas welling up within. Just to put things in perspective, LA has huge venture capitalist investments with a quarterly average of $3.1 billion, and you get a pretty thriving community.
Plus, with Los Angeles’s mega ties to the entertainment industry, there has also been an accumulation of projects that are examining and blending crypto and the media. For example, in 2022, nine NFT companies worked with Hollywood studios to bring blockchain assets to the entertainment industry.
