The Future of Cryptocurrency Is in Asia
Asia could be the growth monster of this cycle as US regulation slams on.
Prominent traders such as GCR and Arthur Hayes have long discussed Asia’s long-term impact on cryptocurrencies, with some arguing that investors in the region will be the driving force of the current cycle.
With the brutal US regulatory environment and increasingly positive developments in Hong Kong and mainland China, the case for Asia to lead the crypto industry continues to strengthen.
Hong Kong’s new clear crypto regulations and political ties with the mainland suggest that mainland China is indirectly supporting Hong Kong, positioning it as a regulated crypto hub. Hong Kong’s recent approval of a crypto ETF further supports this view.
In contrast, the US presents a different picture, with the SEC’s recent actions against Metamask and Uniswap, which the FBI warned were a regulatory attack on cryptocurrencies.
These actions reflect the growing scrutiny of crypto businesses within the US, which could drive our more favorable overseas development environment in Asia and bring industry hubs.
