Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
Next Crypto Bull Run Will Start From East, Says Gemini Co-Founder – Markets and Prices Bitcoin News
Gemini’s co-founder believes the next crypto bull run will come from the East. “It will be a humbling reminder that crypto is a global asset class,” he said. “The West, really the United States, has always had only two options: embrace it or be left behind. It cannot be stopped.”
Gemini co-founder at Next Crypto Bull Run
Cameron Winklevoss, co-founder of US-based cryptocurrency exchange Gemini, believes the next crypto bull run will come from the East. He tweeted on Sunday:
My assignment [at the moment] is that the next bull run will start in the east. It will be a humbling reminder that crypto is a global asset class.
“The West, really the United States, has always had only two options: embrace it or be left behind. It cannot be stopped. We know that,” he stressed.
“Any government that does not offer clear rules and sincere guidance will be left in the dust. Quickly. This would mean missing out on the biggest period of growth since the rise of the commercial Internet, continued the Gemini founder. “And that would mean missing out on shaping and being a fundamental part of the future financial infrastructure of this world (and beyond).”
The US Securities and Exchange Commission (SEC) has been under heavy scrutiny following its recent enforcement actions against crypto firms. The regulator charged crypto exchange Kraken on February 9 for its staking program and Paxos days later for the issuance of stablecoin Binance USD (BUSD). The SEC also took action against Gemini in January for allegedly offering and selling unregistered securities to retail investors through its “Earn” crypto asset lending program.
Many crypto supporters, including SEC Commissioner Hester Peirce and several lawmakers, have expressed concern that the SEC does not provide clear rules for crypto firms to comply with. Instead, the commission has chosen to take an enforcement-centric approach to regulating the crypto industry.
Meanwhile, a growing number of jurisdictions in Asian countries are attempting to become a crypto hub, including Hong Kong, Singapore and South Korea’s second largest city, Busan. Several places in Europe are also striving to establish themselves as a crypto hub. A recent study by crypto tax firm Recap ranked London as the “most crypto-ready city.”
The CEO of the Nasdaq-listed crypto exchange Coinbase, Brian Armstrong, said last week that the United States risks losing its status as a financial hub if there is no clear crypto regulation. He and the CEO of Kraken have urged Congress to act soon to pass clear crypto legislation.
Do you agree with the Gemini founder that the next crypto bull run will start from the east? Let us know in the comments section below.
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