Crypto as a whole is too centralised

The US government and US companies have too much power in the crypto ecosystem. I'm European, but to keep up with crypto on this sub and elsewhere, I still need to pay attention to US agencies like the SEC or US legislation, because their actions greatly influence crypto as a whole.

The decentralized nature of blockchain technology was supposed to prevent any one entity from dominating, but it seems to me that US-based companies and regulatory bodies are exerting a disproportionate amount of control over the industry. Many of the largest and most popular cryptocurrency exchanges are based in the US, including Coinbase and Kraken. This gives the US government a great deal of influence over the industry, as they have the power to regulate and enforce laws on these exchanges. It also means that US investors have a greater say in the direction of the industry, as they are more likely to use these exchanges.

Many of the most influential figures in the industry are based in the US, including major investors and prominent personalities on social media. This means that US-based projects and ideas are more likely to gain traction and be successful. Also, many new projects (both in the US and elsewhere) use cloud services in the US, such as AWS. Nodes for several blockchains are running on the same servers, controlled by US companies.

I feel like one of the biggest threats to crypto as a whole is the US dominance, and that new projects increasingly should focus on finding alternatives in other parts of the world… But of course, I understand that you want to start your new venture where the money is. What do you think? Is there any realistic way to push for decentralisation and avoid a monopoly of influence and regulations? I sometimes think that policies hurting crypto in the US might benefit crypto as a whole in the long run, because it may force developers and investors elsewhere…

Sorry for rambling on, this turned out way longer than I intended it to be.

TL;DR: US regulations and US companies dominate crypto to an unhealthy degree – crypto should be truly international to be decentralised.