- Gemini co-founder Cameron Winklevoss has said that the next cryptocurrency bull run will come from the east.
- His comments come amid an uptick in enforcement actions and impending action by US regulators.
Cameron Winklevoss, co-founder of Gemini, recently No That the next crypto bull run will come from the east. His comments come amid a spike in enforcement actions and impending action by US regulators, including the Securities and Exchange Commission (SEC).
“This will be a sobering reminder that cryptocurrencies are a global asset class and that the West, in fact the US, always had only two options: adopt it or be left behind. It can’t be stopped. We know,” Winklevoss tweeted.
According to blockchain analytics firm chainanalysisCentral and South Asia and Oceania (CSAO) was the third largest cryptocurrency market in its 2022 index. From July 2021 to June 2022, residents of these regions received $932 billion worth of cryptocurrency.
The region also had seven of the top twenty countries in the 2022 index, including Vietnam (1), Philippines (2), India (4), Pakistan (6), Thailand (8), Nepal (16), and Indonesia (20). ). ).
Winklevoss said that governments that do not provide clear regulations and real guidance on cryptocurrencies will be left behind, missing out on the greatest period of growth since the dawn of the commercial Internet.
Industry leaders see Asian cryptocurrency boom
Other industry leaders have suggested that the American approach to cryptocurrency will drive the industry away, or that the next cycle of cryptocurrency growth will occur in Asia.
According For Coinbase CEO and co-founder Brian Armstrong, tougher actions by the SEC and other US regulatory bodies could spur more crypto business abroad.
Last month, GCR, an independent market analyst on Twitter, Foretold That China, and Asia in general, will drive the next race in the crypto market.
Arthur Hayes, former CEO of crypto derivatives giant BitMEX, Foretold The next bull run will begin in October 2022 when China returns to the market, and Hong Kong will play an important role in the process.
According to Hayes, Hong Kong could become a testing ground for Beijing to mine crypto markets as well as Chinese money finding its way into global crypto markets.