Crypto businesses have struggled in 2022 due to a prolonged crypto winter and increased regulatory scrutiny from agencies like the SEC in the US. This has caused many crypto companies to consider moving operations overseas to locations with less regulation like Dubai, Singapore, and London. The SEC has taken action against cryptocurrency exchanges like Gemini and Coinbase, causing them to consider moving headquarters out of the US to escape regulatory attention. While better regulation could provide clarity, many crypto companies seek looser rules so they can continue practices like helping hide illegally obtained funds that would still be illegal.