Impact of Geoblocking on U.S. Crypto Airdrops
#Cryptocurrency
#Ethereum - ETH
Impact of Geoblocking on U.S. Crypto Airdrops
A recent report by Dragonfly suggests that U.S. residents may have missed out on billions of dollars in cryptocurrency airdrops due to geoblocking policies from 2020-2024. The report analyzed data from 12 Ethereum-based airdrops, revealing that 11 projects restricted U.S. participation, resulting in an estimated loss of $1.84 to $2.64 billion. The report emphasizes the need for clear regulatory frameworks, tax clarity, and registration pathways instead of geoblocking. Despite some users using VPNs to bypass restrictions, a significant portion missed claiming their token shares. The economic impact extends to missed tax revenues for both federal and state governments. Dragonfly recommends regulatory clarity and tailored frameworks to unlock the full potential of airdrops and foster a thriving blockchain ecosystem in the U.S.
