A report from crypto venture capital firm Dragonfly reveals that geoblocking policies have potentially cost U.S. users billions in unclaimed crypto airdrops between 2020 and 2024. Analyzing 12 distinct airdrops, the report shows that 11 of these projects restricted U.S. residents from participation, leading to estimated losses ranging from $1.84 to $2.64 billion. An extended analysis includes 21 airdrops, suggesting total losses could reach $5.02 billion. Despite some users using VPNs to bypass restrictions, many still missed out. The financial implications extend to potential federal tax revenue losses of approximately $1.1 billion and state losses around $284 million. To address these issues, Dragonfly recommends regulatory clarity, aligning airdrops with tax policies similar to credit card rewards and continuous engagement with the crypto industry for better frameworks. With regulators increasingly collaborating with crypto firms, the potential for new guidelines is on the horizon, though the future of regulatory clarity regarding airdrops remains uncertain.

Source đź”—