Changpeng Zhao, CEO of Binance, feels that crypto adoption will increase this year as governments across the globe take a greater role in regulating digital assets.
According to a recent interview, with the co-founder of the world’s biggest cryptocurrency exchange platform, authorities across the world are becoming more interested in the crypto business in 2022, which might be an indication of impending acceptance.
“I believe that by 2022, we will see authorities attempting to attract [to] this business. Thus, I believe it is one of the most basic observations we make. Numerous governments, including the United States, have issued executive orders indicating their intention to create their own stablecoin.
Dubai established a regulatory framework and granted several licences to major entities, which is considerable in comparison to obtaining licences in Bahrain [and] other locations.
We’re seeing it, and we’re seeing it now in France, Portugal, Sweden, and Gibraltar — they’re all really favourable about crypto, which I believe helps with adoption.”
Zhao also emphasises that industrial advancements that result in new technologies may help influence the future of cryptocurrency.
“And then there’s the other things, like how the industry is always developing, this metaverse… I believe it will continue to evolve and develop. Metaverse — numerous individuals and businesses are experimenting with various strategies; we’ll see how it pans out.”
Zhao has urged the crypto sector to embrace laws and safeguard customers, arguing that the assumption that regulations are always harmful to crypto is oversimplified.
As stated by the CEO in a blog post on the Binance website, “Supportive regulations will benefit cryptocurrency. Regulators who are anti-crypto will be anti-crypto. Regulations that safeguard consumers while fostering innovation are critical for the industry’s progress.”
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