Cameron Winklevoss forecasts a new bull run taking shape in the East

The next bull market will begin in the East, and the United States will have only two options: embrace cryptocurrencies or be left behind. This was stated by Gemini co-founder Cameron Winklevoss.

My working thesis atm 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 and that the West, really the US, always only ever had two options: embrace it or be left behind. It can’t be stopped. That we know.

— Cameron Winklevoss (@cameron) February 19, 2023

The executive stressed that the development of digital currencies cannot be halted.

“Any government that does not offer clear rules and ‘genuine leadership’, will force people to swallow dust. Quickly. This will mean missing a great period of growth since the advent of the commercial internet. One may miss the opportunity to shape and be a foundational part of the future financial infrastructure of this world (and beyond),” the expert explained.

Such statements came amid claims NYDFS and SEC against Paxos regarding the issuance of BUSD, as well as allegations Kraken of failing to register the staking program staking.

In addition, the Gary Gensler-led agency proposed expanding and strengthening the role of qualified custodians for cryptocurrencies. The move drew criticism from the community.

The SEC’s initiative may be a response to the recent wave of bankruptcies in the industry, under which clients FTX, Celsius, BlockFi and Voyager may not recover all of their funds.

Earlier, Compound founder Robert Leshner warned of an “Armageddon” in the industry due to U.S. regulatory actions.

Earlier, The Wall Street Journal reported that banks are ending partnerships with crypto firms amid fears of crackdown by regulators.