Binance CEO Changpeng Zhao believes crypto adoption will expand this year as governments around the world take on increasingly larger roles in regulating cryptocurrencies.
In a new interview, the co-founder of the world’s largest crypto exchange thinks that lawmakers worldwide are increasingly drawn to the crypto industry in 2022, which is a potential sign of impending adoption. Binance CEO Zhao “What excites you most in the cryptocurrency market in 2022?” He answered the question as follows:
“If you’ve noticed, there are now regulatory bodies that want to become a part of the cryptocurrency industry. I think that’s one of the most fundamental and important things we’ve changed. Many countries, including the USA, have issued executive orders regarding stablecoins.
Along with Bahrain, Dubai created a regulatory framework. Dubai has granted a number of licenses to major players, this is important..
We’re seeing that, and now we’re seeing it also in France, Portugal, Sweden and Gibraltar – they’re all very positive towards crypto, so I think it’s really helping adoption.”
Zhao also added that industry innovations can help shape the way crypto is going forward.
“And other things, like the industry is always innovating, this metaverse… I think it just keeps repeating and evolving. Metaverse – multiple people, multiple companies [hepsi] He’s trying different things, we’ll see how it turns out.”
Earlier, Zhao urged the crypto industry to embrace regulations and protect consumers, also saying that the idea that regulations are automatically bad for crypto is too simplistic. As the CEO noted in his Binance blog post,
“Good regulations will be good for crypto. Bad regulations will be bad for crypto. Having good regulations that protect consumers while fostering innovation is important to the growth of the industry.”