Zhao mocked the cluster of crypto regulators, saying, “How many of you are regulators or from a regulatory background?”. When he found the number was “not much”, he sighed in relief. However, the reality is something else.
He will now focus on advising the government officials on how to regulate digital assets. In recent times, he has been named the chief crypto advisor in Pakistan and Kyrgyzstan.
He also met with the Malaysian PM on Tuesday with the prospect to turn the country into a crypto hub.
# The Buzz in Town
People are saying that it’s quite an upturn for someone who was found guilty in the year 2023. His anti-money laundering miserably failed. He allegedly allowed platform access to terrorist organizations.
However, people got a bit of clarity on the kind of advice he will offer, after he appeared at the Ritz-Carlton conference. He said that his prime objective will be encouraging the governments to take a relaxed stance towards crypto, Meanwhile, he will also try to make the crypto investment portfolio more diverse.
# His Extensive Plans
He is encouraging the establishment of a new agency for better crypto regulations. For example, he took the name of the Dubai Virtual Assets Regulatory Authority. This entity is to his ardent liking.
The main reason is that this authority allowed a full license to the exchange group’s local entity. When Zhao gave up the voting control, he received a golden visa for Dubai in 24 hours. He also gave the example of Bahrain’s Central Bank.
According to him, it is another of the smart-thinking regulators in crypto.
