U.S. Vice President JD Vance announced on October 8 at a White House press conference that the U.S. federal government has suspended “permanent labor certification” (PERM) processing for several major technology companies, including Microsoft, and launched J-1 visa investigations into nine universities such as Harvard and Stanford.
PERM certification is the key first step for H-1B visa holders to apply for an employer-sponsored green card. This policy directly tightens the pathway for foreign tech talent to stay in the United States. Vance specifically accused the relevant companies of improper practices and called for technology companies to prioritize employment of domestic, home-country workers, sending shockwaves through the tech industry.
In the near term, this move may increase compliance costs for major technology firms and heighten friction in hiring, and the labor structure within U.S. tech stocks and their ability to attract overseas talent may be reassessed. Administrative intervention in the labor market often leads risk-asset investors to pay closer attention to changes in long-term operating costs.
For the crypto industry, Web3 has long relied on decentralization and remote collaboration. If traditional large-firm talent visa routes are blocked, it may objectively push some high-quality technical professionals toward decentralized ecosystems that are not limited by geography. The broader market is maintaining a wait-and-see stance. #USPolicy #TechIndustry #Employment
PERM certification is the key first step for H-1B visa holders to apply for an employer-sponsored green card. This policy directly tightens the pathway for foreign tech talent to stay in the United States. Vance specifically accused the relevant companies of improper practices and called for technology companies to prioritize employment of domestic, home-country workers, sending shockwaves through the tech industry.
In the near term, this move may increase compliance costs for major technology firms and heighten friction in hiring, and the labor structure within U.S. tech stocks and their ability to attract overseas talent may be reassessed. Administrative intervention in the labor market often leads risk-asset investors to pay closer attention to changes in long-term operating costs.
For the crypto industry, Web3 has long relied on decentralization and remote collaboration. If traditional large-firm talent visa routes are blocked, it may objectively push some high-quality technical professionals toward decentralized ecosystems that are not limited by geography. The broader market is maintaining a wait-and-see stance. #USPolicy #TechIndustry #Employment