Gemini CEO Predicts a Bullish Future for Crypto in the East

Cameron Winklevoss, Gemini Co-founder, and CEO made forecasts concerning the next crypto bull. On Twitter, Cameron claims that the next bull will emerge from the East, and the US will have to choose between embracing cryptocurrency or being stopped.

His stance is based in part on the recent regulatory crackdown on crypto by regulatory bodies in the US. Also, he thinks that cryptocurrency cannot be halted and that the appearance of the next bull in Asia will serve as a reminder that it is a worldwide asset class.

Furthermore, Cameron highlighted that any administration that doesn’t provide transparent crypto guidelines and authentic leadership would be left behind. Consequently, they will eventually miss out on the biggest growth spurt since the emergence of the commercial Internet.

Meanwhile, the Gemini boss is not the first person to assert that the United States policy toward crypto will drive away the sector or that Asia may be the region to spark the next crypto development cycle. Brain Armstrong, CEO of Coinbase previously advised regulators in the US to ensure that crypto developments are encouraged and not stifled by a lack of clear rules.

Key Crypto Developments in Asia

In recent years, Asia has seen a surge in cryptocurrency development, with countries such as China, Japan, South Korea, Singapore, and India all playing pivotal roles in shaping the industry’s future.

One of the main factors in the growth of crypto in Asia has been the development of crypto-friendly regulatory environments in many countries in the region. For example, a global crypto readiness report has revealed that Hong Kong is the most crypto-ready country in the world in 2022. 

The Hong Kong government has a relaxed attitude toward the sector and does not levy taxes on investors or companies that profit from cryptocurrency trading.

Furthermore, the development of novel blockchain applications has also fueled the expansion of cryptocurrencies in Asia. For instance, China announced in December that it will launch its first-ever authorized platform for trading Non-Fungible tokens (NFT) this year. 

The platform will serve as a secondary market for the buying and selling of NFTs and also make it simpler to transfer copyrights for digital goods.