The next Crypto Bull Run is powered by Asia: Cameron Winklevoss

The next Crypto Bull Run is powered by Asia: Cameron Winklevoss

On February 20, the crypto pioneer said that his current working thesis was that the next bull run in the east would begin.

he added that this will be a reinforcement of the principle that crypto is a global asset class. Each region can have its own rules and points of view to crypto, but in the end it spanned the whole globe.

The comments come against the industry in the course of a US regulatory war while the Securities and Exchange Commission increases their enforcement. The financial supervisory authority took care of everything, from stable coins to staking to crypto custody, and claims that everything falls under the laws of securities.

"It will be a humiliating memory that crypto is a global asset class and that the West, really the United States, always had only two options: to accept or leave it.

My working thesis atm is that the next bull run in the east will start. It will be a humiliating memory that crypto is a global asset class and that the West, really the United States, always had only two options: accept it or be left behind. It cannot be stopped. We know that.

- Cameron Winklevoss (@cameron) 19. February 2023

The story of Hong Kong grows

While the financial supervisory authorities of Uncle SAM work as hard as possible to smash the industry for private American investors, the prospects in Asia are far more encouraging.

In June, Hong Kong will open its doors to the digital-asset industry, as it is striving for the status of an Asian crypto hub. The country will officially legalize the purchase, sale and trade of crypto for all its citizens.

Although citizens on the mainland of Chinese are still prohibited to act the asset class in China, the opening in Hong Kong Chinese institutions will offer a way to enter the cryptoma markets.

This was widely regarded as the origin of the next major capital inflow.

In addition, large Asian banks such as DBS have already started applying for licenses for the offer of cryptodicists for customers in Hong Kong.

Last week, Brian Armstrong, CEO from Coinbase, repeated this opinion:

"America risks to lose its status as a financial center in the long term, without clear regulations for crypto and an hostile environment of regulatory authorities. The congress should soon act to say goodbye. Crypto is open to everyone in the world.

Singapore is also very future -oriented in relation to a fully regulated industry for digital assets.

Asian StableCoin plans

industry analysts have also predicted that an Asian stable coin will also be introduced during the next bull market cycle. China is particularly interested in distance itself from the US dollar hegemony.

researchers of the Chinese government proposed a digital currency in October 2022 that is based on a basket of Asian currencies.

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