Justin Sun calls for unified crypto regulation

Share This Post

Tron DAO (TRX) founder and Huobi Global adviser Justin Sun said regulations are beneficial for the crypto industry. and added that a globally unified rule would complement the spirit of blockchain in an exclusive interview he gave CNBC.

Sun explained that blockchain technology emerged to set a global standard for financial interactions, and therefore an international regulatory framework would be a good fit for the crypto industry.

He stated:

“I believe a unified regulation is also good for the industry, because blockchain itself is focusing on providing unified standards for global payments and settlements.

So that’s why we are also willing to collaborate with governments to come up with a unified blockchain standard.”

Asia to dominate next bull run

Sun stressed that regulations would significantly benefit users in Asia, who need “certainty and security.”

According to Sun, the Asian markets “with a transparent and clear regulation” will dominate the next bull run in crypto in 2023 and 2024. Sun said that clear regulatory frameworks provide full transparency into the industry, attracting high-net-worth individuals.

Finally, Sun briefly talked about how Singapore and Hong Kong compete in attracting Web3 companies into their lands. “They basically play different roles,” Sun said, as Hong Kong launched Web3 sponsorships and Singapore tightened the rules to provide more security.

Hinting that the rest of the world might also take some steps to encourage Web3 development within their borders, Sun said:

 “I think this [competition] will also happen between the US government and other governments as well.”

The post Justin Sun calls for unified crypto regulation appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XLM Soars 120%: Is a New All-Time High Around the Corner?

The post XLM Soars 120%: Is a New All-Time High Around the Corner appeared first on Coinpedia Fintech News With a massive jump of 120% this week, XLM’s price is now trending at $04325 This

Marketing Veteran: Web3 Gaming Needs Collaboration, Not Competition

Funtico’s CCO says early Web3 games failed due to poor infrastructure but says the industry has shifted its focus to improving this Collaboration: A Win-Win for Web2 and Web3 Gaming Doron

Elon Musk Warns U.S on Brink of Bankruptcy : Can Trump’s Bitcoin Reserve Plan Fix It?

The post Elon Musk Warns US on Brink of Bankruptcy : Can Trump’s Bitcoin Reserve Plan Fix It appeared first on Coinpedia Fintech News According to the latest DOGE report, the US government’s

Solana Records New ATH After 3 Years: Is SOL Ready To Flip USDT?

Solana (SOL) has recorded a new all-time high (ATH) of $262, marking a historic recovery after three years of tumultuous price action Notably, the token had once fallen as low as $8 at the peak of

UK Crypto Regulation 2025: Rivalling EU MiCA with New Stablecoin Rules

The post UK Crypto Regulation 2025: Rivalling EU MiCA with New Stablecoin Rules appeared first on Coinpedia Fintech News The UK is gearing up to present its crypto-regulatory framework in 2025 The

Ripple CEO Brad Garlinghouse Backs Trump’s Pick Scott Bessent: End of the SEC Lawsuit Near!

The post Ripple CEO Brad Garlinghouse Backs Trump’s Pick Scott Bessent: End of the SEC Lawsuit Near! appeared first on Coinpedia Fintech News Ripple CEO Brad Garlinghouse shared the good news with