Uncategorized

Binance CEO Changpeng Zhao Says Crypto Adoption Will Ramp Up in 2022 – Here’s Why

Binance CEO Changpeng Zhao believes crypto adoption will expand this year as governments around the world progressively take larger roles in regulating digital assets.

In a new interview, the co-founder of the world’s largest crypto exchange platform says that lawmakers across the globe are increasingly being drawn to the crypto industry in 2022, which is a potential sign of upcoming adoption.

“I think in 2022, we are now seeing regulators want to attract [to] this industry now. So I think that’s one of the most fundamental things we see. Multiple countries, like [the] US, issued executive orders, they want to do their [own] stablecoin.

Dubai issued [a] regulatory framework, and issued a number of licenses to big players, which is significant, and getting licenses in Bahrain [and] other places.

We’re seeing that and also now we’re [seeing] in France, Portugal, Sweden, Gibraltar – they’re all very positive towards crypto, so I think that really helps with adoption.”

Zhao also notes that industry innovations leading to new technology could also help shape the path of crypto going forward.

“And the other stuff, like the industry always innovating, this metaverse… I think it continues to iterate and improve. Metaverse – multiple people, multiple companies are [all] trying different things, we’ll see how it plays out.”

Previously, Zhao had called for the crypto industry to embrace regulations and protect consumers, saying the notion that regulations are automatically bad for crypto is too simplistic of a view.

As stated by the CEO in a Binance blog post,

“Good regulations will be good for crypto. Bad regulations will be bad for crypto. Having good regulations that protect consumers while encouraging innovation is important for the growth of the industry.”