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Gemini\u2019s co-founder believes that the next crypto bull run will come from the East. \u201cIt will be a humbling reminder that crypto is a global asset class,\u201d he said. \u201cThe West, really the U.S., always only ever had two options: embrace it or be left behind. It can\u2019t be stopped.\u201d Cameron Winklevoss, co-founder of the U.S.-based cryptocurrency exchange Gemini, believes that the next crypto bull run will come from the East. He tweeted Sunday:<\/p>\n My working thesis [at the moment] is that the next bull run is going to start in the East. It will be a humbling reminder that crypto is a global asset class.<\/p>\n<\/blockquote>\n \u201cThe West, really the U.S., always only ever had two options: embrace it or be left behind. It can\u2019t be stopped. That we know,\u201d he emphasized.<\/p>\n \u201cAny government that doesn\u2019t offer clear rules and sincere guidance will be left in the dust. Quickly. This will mean missing out on the greatest period of growth since the rise of the commercial Internet,\u201d the Gemini co-founder continued. \u201cAnd it will mean missing out on shaping and being a foundational part of the future financial infrastructure of this world (and beyond).\u201d<\/p>\n The U.S. Securities and Exchange Commission (SEC) has come under heavy scrutiny following its recent enforcement actions against crypto firms. The regulator charged crypto exchange Kraken<\/a> on Feb. 9 over its staking program and Paxos<\/a> days later over its stablecoin Binance USD (BUSD) issuance. The SEC also took action against Gemini<\/a> in January for allegedly offering and selling unregistered securities to retail investors through its \u201cEarn\u201d crypto asset lending program.<\/p>\n Many crypto supporters, including SEC Commissioner Hester Peirce and several lawmakers, have expressed their concerns that the SEC is not providing clear rules for crypto firms to come into compliance. Instead, the Commission has chosen to take an enforcement-centric approach to regulating the crypto industry.<\/p>\n Meanwhile, a growing number of jurisdictions in Asian countries are making efforts to become a crypto hub, including Hong Kong<\/a>, Singapore, and South Korea\u2019s second-largest city, Busan<\/a>. Several places in Europe are also striving to establish themselves as a crypto hub. A recent study by crypto tax firm Recap ranked London<\/a> as the \u201cmost crypto-ready city.\u201d<\/p>\n The CEO of Nasdaq-listed crypto exchange Coinbase, Brian Armstrong, said last week that the U.S. risks losing<\/a> its status as a financial hub if there is no clear crypto regulation. He and the CEO of Kraken<\/a> have urged Congress to act soon to pass clear crypto legislation.<\/p>\n
<\/strong><\/p>\nGemini Co-Founder on Next Crypto Bull Run<\/h2>\n
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