It has been over a decade since Bitcoin (BTC) initiated the cryptocurrency revolution. However, even after such a long time, regulatory confusion still seems to persist. Every year, regulatory bodies develop solutions to manage the regulatory framework, and the framework changes the following year.
However, amidst shifting sands of the regulatory framework, there has been one name that has managed to change its outlook. In a recent conversation with CoinBureau, Richard Teng highlighted how the UAE’s rapid crypto-friendly moves could change the dynamic.
Changing Of The Power Dynamic
According to Teng, favorable policies implemented by the UAE’s regulatory body could tip the scale in favor of the UAE. In other words, it could bring in more institutional investors to the forefront. Teng believes that this could be great for crypto as a whole.
CEO of Binance, Richard Teng, shared a critical insight into how the power dynamic of crypto might shift from the West to the UAE. This will not only affect the regulatory framework, but also the volumes and user base.
Then again, the SEC remains the resounding voice that shapes the landscape. Therefore, if the regulatory body decides to drop more cases against various blockchains, there could be another surge in bullish movement.
However, if the regulatory body takes a longer time, then the focus of institutional investors could gradually shift towards the Middle East.
