Looking ahead into 2020, influencers, experts, and leaders in the crypto industry have voiced that Asia will lead the development of the crypto industry with initiatives such as establishing clear regulations to attract investors from other parts of the world.
According to Cryptopolitan, countries in Asia will be leading the growth of the crypto industry this year. For example, Singapore has set the example by issuing regulations that will facilitate crypto firms looking to tap into a market of more than six hundred million consumers across Southeast Asia.
Liu Tianwei, CEO of Xfers — a crypto firm specializing in streamlining bank transfers — revealed that digital assets will be recognized as an asset class driven by the “clearly-marked regulatory framework in the ASEAN region” which will “make it an attractive industry for derivatives market and fresh talents for around the world”.
Superpower China will also be playing a huge role in the industry, as Bobby Ong, Co-founder of crypto ranking app CoinGecko, disclosed that the strong support for blockchain technology from
Chinese President Xi Jinping “will attract more investments in the domain and ultimately take the industry to the next stage in 2020”.
Moreover, Ben Chan, CTO of crypto wallet BitGo, stated that economic uncertainties across the world will result in fiat currencies “failing to hit the mark”, thus, the banking and financial sector will be more incentivized to develop central bank digital currencies.
Bitcoin is also expected to continue to grow in 2020, with Spencer Yang, VP of Operations at CoinMarketCap saying that Bitcoin will be a factor in driving the cryptocurrency industry this year, while other topics in the spotlight will include cryptocurrency adoption, volatility and liquidity.
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