“The Next Bull Run Might Be In The East”

Cameron Winklevoss, co-founder of Gemini exchange, pointed to Asia for the next bull run. According to Winklevoss, the US will lag behind Asia if the country’s market regulator fails to come to a clear conclusion on cryptocurrencies.

Cameron Winklevoss, one of the famous founding twins of cryptocurrency exchange Gemini, referred to the ongoing pressure from the SEC and reported that it has caused confusion in the cryptocurrency markets. Winklevoss warned that if this situation continues, countries in Asia may get ahead of the United States.

Making a statement on Twitter, Winklevoss reminded that crypto is a global asset class, saying, “The thesis I am currently working on is that the next bull run will start in the East.” Winklevoss reported that for this reason, the US has two options before it: “embrace or stay behind” crypto. Meanwhile, the SEC has targeted some of the crypto’s leading names in the past few weeks.

In January, the regulator filed a lawsuit against Gemini, the crypto exchange founded by Cameron and his twin brother Tyler in 2014, and the lending platform of crypto giant Genesis. The SEC alleges that the two firms’ joint interest-bearing “Gemini Earn” program constitutes an unregistered securities service that is illegal.

Kraken, the world’s third-largest cryptocurrency exchange, agreed earlier this month to fine the regulator $30 million and shut down its “staking” program in the US. The service offered customers up to 21 percent returns if they agreed to lock their cryptocurrencies for use on the blockchain. The SEC’s new tough approach to the industry stands in stark contrast to the stance of Asian regulators in places like Singapore, which have declared its intention to become an international hub for blockchain finance.

Saying that the U.S. will “quickly” lag behind if the SEC does not compromise with crypto investors, Winklevoss said, “This would mean missing out on the biggest period of growth since the commercialization of the internet.” said.