June 27 (Cointime) - Former CFTC Chairman Chris Giancarlo suggests that Japan may benefit from the regulatory challenges faced by the US in the cryptocurrency industry.

The ongoing lawsuits between the SEC and cryptocurrency exchange giants Binance and Coinbase have raised concerns about the impact on global markets. However, some insiders in Japan see an opportunity to further establish the country as a crypto-friendly nation due to its established legal framework.

Giancarlo, a vocal advocate for the cryptocurrency industry, believes that Japan could remain largely unaffected by the ongoing crypto storm in the US.