Recently, CoinMarketCap listed Kaspa under its “Made in America” section — a move that raised a few eyebrows in the crypto community. After all, how can a truly decentralized, proof-of-work cryptocurrency like Kaspa be considered “Made in a country”? Isn’t the whole point of decentralization to be borderless and stateless?
Well, let’s break down what this means and why it might actually matter more than it seems.
Is Kaspa Really “Made in America”?
Technically, Kaspa doesn’t belong to any country. It’s an open-source, community-driven blockchain project without a central headquarters, borders, or government affiliation.
But if we dig a little deeper, there are strong American ties in Kaspa’s early development and ecosystem:
- Majority of Kaspa’s hash power and miners are based in the United States, including MARA Holdings, one of the largest Bitcoin miners in the country, which now mines Kaspa as well.
- Some of the core developers hold U.S. citizenship, and others have dual citizenships, further tying parts of the project to the U.S.
- Perhaps most significantly, U.S.-based Polychain Capital played a key role in funding Kaspa’s early research and development.
Back in the day, Polychain invested $8 million to fund DAGLabs, the team that developed Kaspa’s underlying technology over several years.
Though DAGLabs eventually dissolved, that funding and support gave Kaspa a significant boost in its foundational years — and yes, it came from American capital and institutions.
So, Why Does the “Made in America” Label Matter?
On the surface, this label from CoinMarketCap might seem purely symbolic — after all, there are no official U.S. government rules yet defining what a “Made in America” crypto even is.
But it’s what this could lead to that’s interesting:
- The new U.S. White House administration is warming up to crypto, and there are talks of a National Crypto Reserve initiative being created alongside Strategic Bitcoin Reserve.
- Early speculation suggests that cryptocurrencies with strong U.S. roots could be considered for inclusion in such a reserve.
- Also intriguing, are the rumours of potential capital gains tax exemptions for “Made in America” crypto assets in future regulatory proposals.
None of this is official yet — but if any of it does materialize, Kaspa’s inclusion in the “Made in America” category could give it a real head start in benefiting from favorable policies.
A Head Start in a Changing Landscape
Kaspa is and will be a decentralized, stateless currency — but its ties to U.S. mining power, developer citizenships, and funding history make it plausible to be seen as partially “American-made” in the eyes of institutions or regulators.
If the U.S. government moves toward defining what a national crypto reserve looks like, or if tax incentives are granted to homegrown crypto projects, Kaspa now has a potential argument for inclusion — a subtle yet strategic edge in a competitive and evolving crypto landscape.
Whether this classification by CoinMarketCap will actually lead to tangible benefits is still uncertain. But one thing’s clear: Kaspa just earned another interesting card to play in its journey forward.
