5 Countries That Will Drive The Next Crypto Bull Run!!

We're all waiting for the next crypto Bull market to begin now we can't know When it will kick off but some believe They do know where it will originate Back in February Gemini cryptocurrency Exchange co-founder Cameron Winklevoss Said that the next crypto bull market Will come from the East this was a Reference to the fact that countries in The East have been embracing crypto by Introducing sensible regulations that Could result in record levels of Institutional investment so today I'm Going to tell you about five countries That could be the primary drivers behind The next bull market when they could be Passing pro-crypto regulations and which Cryptocurrencies will benefit The first country to watch is the United Arab Emirates or UAE the UAE introduced Its first pro-crypto regulations way Back in 2018 when the country announced Its blockchain strategy 2021 However it wasn't until early 2022 that The crypto industry started to migrate To Emirate cities like Dubai that's Because early 2022 is when the UAE Announced that it would be introducing a Federal license for so-called virtual Asset service providers or vasps which Include cryptocurrency exchanges this Federal license effectively combined all The crypto licenses the country had Created by that point in the months that

Followed there were no shortage of Headlines about businesses such as International schools accepting crypto Payments and government agencies Dabbling in metaverses and nfts the UAE Ministry of economy even set up a Virtual headquarters in a custom Metaverse by the end of 2022 the UAE was Home to over one and a half thousand Crypto projects and companies including The coin Bureau Now obviously most of these projects and Companies moved to Dubai this caused Fomo from other Emirate cities such as Abu Dhabi which announced multi-billion Dollar crypto initiatives to get in on The rush earlier this year the UAE Minister for foreign trade announced That crypto would play a major role in Uau trade the uae's crypto adoption also Seemed to cause fomo in other Gulf Countries such as Oman which announced That it would be looking to introduce Crypto regulations in the coming months Now as bullish as the uae's crypto Adoption has been there's one small Issue that's been holding it back from Its full potential and that is banking Access according to UAE crypto Regulation analyst wealthy expat Pro-crypto regulation hasn't made UAE Banks any more comfortable opening Accounts for crypto clients this might Have something to do with the fact that

The financial action task force or fat f Put the UAE on its gray list last March Now if you've watched any of our videos About the fat F you'll know that being Graylisted means that it becomes harder To transact with the global banking System this is not ideal for crypto Projects and companies seeking to cater To International clients and it's a big Part of why the UAE has taken proactive Steps to get itself off the fat F's Great list Such steps include tightening Regulations around privacy coins and Demanding more information from crypto Projects and companies as noted by Wealthyexpat these revamped crypto Regulations should make UAE Banks more Comfortable servicing crypto clients and With a bit of luck also be enough to get The UAE off that gray list if both Outcomes occur it will finally open the Floodgates for crypto capital in the Country the only caveat is that Regulations aren't the only hurdle to Crypto investing in the UAE there Continues to be uncertainty about which Cryptos are allowed According to Islamic Law for context gambling is forbidden in Islam It's safe to say that a lot of crypto Investing is no different from gambling That's why it makes sense that the UAE Seems to be especially keen on the

Metaverse and nfts the digital property Aspect of these two crypto niches makes Them more palatable from an Islamic Perspective as such metaverse and nft Cryptos could see the biggest inflows From the uae's ongoing crypto adoption While it's not entirely clear when the UAE will finalize its revamped crypto Regulations or get off the fat F's gray List it's likely both will happen by the End of the year this ultimately depends On how much the UAE complies with Requests coming from the U.S government Which seems to largely control the fat F This ties into the second country to Watch and that's Saudi Arabia now in Contrast to the UAE the Saudi government Banned Banks from processing crypto Related transactions in 2018. the Government also declared that crypto Trading was illegal but there are Reportedly no punishments for those who Trade the absence of punishment is Probably why a significant percentage of Saudi citizens hold and trade crypto According to a survey by kucoin in May Last year around 14 of Saudi adults had Held or traded crypto in the last six Months another 17 percent were Interested in crypto now the apparent Popularity of crypto in Saudi seems to Have given rise to so-called Halal Approved crypto products which began Making the crypto headlines late last

Year around this time the Saudi Central Bank announced that it had hired a Crypto expert to assist in the country's Crypto policy if you watched our video About Saudi Arabia's Mega City and its Possible crypto adoption you'll know That binance already has boots on the Ground in the country this is evidence That Saudi is seriously considering Pro-crypto regulations probably because It wants to compete with the other Gulf Countries further Evidence can be found In the unexpected announcement from Earlier this year that the Saudi Government had partnered with crypto Project the sandbox for metaverse Development this further underscores the Appeal of the metaverse and nft niches To countries with Islamic considerations Although it's still too soon to say if Saudi Arabia will adopt crypto to the Extent of the UAE geopolitics seem to be Pushing the oil Kingdom in that Direction as some of you may have heard Saudi Arabia's relationship with the United States is getting weaker while Its relationship with China is getting Stronger Saudi Arabia is now reportedly Considering pricing some of its oil Sales to China in Yuan this would be a Big deal because Saudi Arabia is Basically supposed to price all its oil In U.S dollars pricing even just a

Portion of its oil in Yuan would weaken The US dollar which would upset the United States here's where things get Very interesting the Saudi Rial is Pegged to the U.S dollar at a rate of 3.75 SAR to 1 USD and this has been the Case since 1986. if Saudi Arabia was to Do something to upset the U.S such as Sell its oil in foreign currencies the U.S could retaliate by restricting Saudi Arabia's access to USD The Saudi government seems to be hyper Aware of this and I would say it's Precisely why the Saudi Central Bank is Considering the development of a central Bank digital currency or cbdc a digital Saudi real could make it possible for Saudi Arabia to eliminate its currency's Dependence on the U.S dollar the problem With that approach is that other Countries may not feel comfortable Accepting a Saudi cbdc as payment One solution could be to develop a new Kind of Reserve currency such as the one Being considered by the brics countries Another solution could be simply to Adopt cryptocurrency instead now this Sounds crazy until you consider the Following Late last year Iran another Islamic Country allowed businesses to use crypto For trade China recently brokered a Peace deal between Saudi Arabia and Iran Iran might use crypto for trade with

Saudi Arabia and this could make Saudi More comfortable doing the same if Saudi Arabia does start using crypto for trade The gulf countries would likely follow Suit that's because currencies of most Gulf countries are also pegged to the US Dollar I bet they're itching to escape U.S influence as much as Saudi is and I Would say it's precisely why the UAE is Rushing to roll out a cbdc2 You can learn more about the decline of The US dollar using the link in the Description Anyways the Third Country to watch is Hong Kong which is essentially part of China this highlights the importance of Hong Kong's crypto adoption because it Foreshadows China doing the same For reference China banned crypto in 2018 and Stamped Out what was left of The industry in 2021. Hong Kong was Initially seen as a safe haven for Chinese crypto companies and projects But this changed after the not so subtle Takeover of the administrative State Following Mass protests in 2019 and 2020. in late 2020 Hong Kong banned Retail crypto trading and cracked down On the crypto industry in early 2022 Hong Kong started targeting stable coins Officials later confirmed this was Because stable coins could undermine a Hong Kong cbdc the fact that the Hong Kong dollar is pegged to the US dollar

Suggests that Hong Kong could likewise Be trying to escape U.S influence with a Cbdc in mid-2022 Hong Kong officials Noted that some nfts require additional Regulations this suggests that the Country may not be as open to metaver us And nft niches as the UAE and Saudi Arabia this could have something to do With China's strict control of social Media and the desire to maintain it in Late 2022 Hong Kong officials noted that They wanted cbdcs to be used in defy Officials later explained that they want To create a cbdc-backed stablecoin now If you've watched any of our videos About the world economic forums views on Crypto you'll know they are huge fans of This approach And then out of nowhere Hong Kong Officials announced that they were Considering legalizing retail crypto Trading and investing by the end of 2022 Hong Kong had committed to attracting Over 1 000 crypto companies and projects To its jurisdiction over the next three Years a complete 180 in attitude earlier This year Hong Kong officials specified That they wanted to restrict retail Crypto investment to the largest and Most liquid cryptocurrencies This suggests that cryptos like BTC and Eth could be the biggest beneficiaries When retail crypto trading and investing Becomes legal this summer specifically

The 1st of June mark your calendars now Not surprisingly it was reported that The Chinese government had signed off on Hong Kong's crypto plans this is an Understatement given that Chinese banks Are now reportedly trying to provide Banking services to crypto companies and Projects in Hong Kong despite crypto Being illegal on the mainland not only That but Hong Kong banks have also begun Offering crypto to Fiat conversions to Their clients Meanwhile in China the courts continue To confirm that holding crypto is Entirely legal despite all the Restrictions taken together this Suggests that the crypto inflows from Hong Kong will be truly massive there Are just two caveats here however The first is that Hong Kong officials Appear to be averse to everything except Crypto investing Non-cbdc stable coins will be off limits And it looks like defy will be Restricted too one Hong Kong official Noted last year that Financial privacy Will not be permitted either For what it's worth the inflows into Large cap cryptocurrencies could be more Than enough to kick-start a new crypto Bull market consider that Cameron's Comments about the crypto bull market Coming from the East were a reference to Hong Kong other crypto heavyweights like

Arthur Hayes have said the same if all This turns out to be the case then it Will likely result in pro-crypto Competition in East Asia the same kind Of pro-crypto competition we're seeing In the Middle East This could result in Hong Kong removing Many of its stablecoin nft metaverse and Defy related restrictions in order to Remain competitive This relates to the fourth country to Watch and that's Singapore now I'll Start by saying that Singapore seems to Have a love-hate relationship with Cryptocurrency The country denied hundreds of crypto Licenses banned crypto related Advertising and even shutdown crypto ATMs early last year on the flip side However KPMG found that crypto Investments in the country had increased By more than 13x in 2021 Singaporean Banks started expanding their services To retail investors in early 2022 and Multiple large crypto companies Including the likes of circle and Coinbase secured crypto licenses Moreover Singaporean companies have been Exploring crypto payments and the Singaporean government has been Exploring tokenizing assets on Smart Contract cryptocurrencies and yet in Between these bullish headlines there's Been no shortage of bearish crackdowns

On the crypto industry most of these Crackdowns came after the collapse of Crypto hedge fund three arrows capital Or 3ac which was of course based in Singapore and given that three AC's Collapse perhaps was caused by the Implosion of terror's UST stablecoin Stable coins were among the crypto Niches Singaporean Regulators targeted Singaporean Regulators also floated the Idea of restricting the participation of Retail investors in crypto but seem to Have opted to introduce revamped crypto Regulations for everyone instead last Time I checked they were still Discussing whether to require retail Investors to take an exam before Investing more recently Singaporean Regulators have been working on Streamlining the screening process for Crypto projects and companies seeking to Secure bank accounts in the country by Now you'll know that banking access is The biggest issue for the crypto Industry so this initiative could be Very bullish indeed now there are just Two problems crypto could encounter in Singapore the first is that the country Experienced direct Financial damage when FTX went bankrupt this is because Singapore's wealth fund temasek lost Around 275 million dollars when the Exchange went down this experience seems To have made Singapore skeptical of

Cryptocurrency exchanges in general and This has apparently been causing issues For binance and others that said there Seems to be more too Singapore's Supposedly selective scrutiny of Cryptocurrency exchanges and companies If you watched our recent cbdc update You'll know that Singapore has been Working closely with the Federal Reserve On a cbdc This suggests that the country is more Geopolitically aligned with the United States and is not trying to escape American influence using a cbdc as other Countries seem to be doing This would explain why Singaporean Authorities scrutinize binance but not FTX and why the country continues to Flip-flop between accepting and Rejecting crypto for those who don't Know binance has been facing lots of Scrutiny from U.S Regulators as of late As has the rest of the crypto industry This means that Singapore's impact on The crypto Market could go either way it Could be very positive if the country Decides to compete with its neighbors on Crypto regulations but it could be very Negative if the country decides to Follow in the footsteps of the U.S I Suspect that Singapore will walk a very Fine line in any case it's clear that The demand for crypto from Elite Investors in Singapore is very high once

The country has finalized its crypto Regulations the inflows could be Comparable to those coming from Hong Kong the difference is that no crypto Niches will be off limits Singapore will Invest in everything Now the last country to watch is a bit Of a wild card and that's France from Where I'm standing it looks like France Is becoming the most crypto-friendly Country in Europe outside of Switzerland And possibly the most crypto-friendly Country in the West This seems to be because of President Emmanuel macron this is because macron Was re-elected in April last year and Since that time we've seen an avalanche Of pro-crypto news coming out of France For starters binance secured a digital Asset registration in the country last May This was a big deal because binance has Been facing lots of scrutiny elsewhere In Europe last September one of France's Largest banks began offering crypto Custody services to institutional Investors and subsequently secured the Same digital asset registration as Binance to provide even more crypto Services this came as a time when U.S Banks started facing scrutiny for doing The same Earlier this year binance partnered with A French company to test crypto payments

In the country French Regulators also Announced that they would be revamping And introducing better crypto Regulations this is noteworthy because The EU is working on its own crypto Regulations France is front running as a Cherry on top usdc stablecoin issue at Circle recently chose France to host its European headquarters considering that Circle is aware of crypto regulations Everywhere and has the money to set up Anywhere choosing France confirms that The country is extremely pro-crypto come To think of it one of the only Anti-crypto headlines I've seen from France was about defy from earlier this Month The bank of France wants D5 protocols to Be certified and Incorporated so they Can be regulated the Silver Lining is That the bank wants different Regulations for defy from tradfi now This is the opposite of what Regulators In the United States and its other Allies have been calling for They've been saying that defy should be Regulated the same way as tradfy has France's deviation on crypto policy as Well as other international issues could Therefore be evidence of substantial Geopolitical changes if you watched our Video about online censorship laws being Introduced around the world you'll know The EU seems to have introduced a set of

Laws which targets U.S tech companies in Fact it's possible if not likely that The eu's initially pro-crypto Regulations were a similar kind of Retaliation the tldr is that the US is Trying to attract Europe's biggest Industries with big incentives Particularly the renewable energy Industry These industries are struggling with High energy costs and inflation due to The war in Ukraine which has by this Point become a proxy war between the U.S And Russia macron is the only European Leader who has been willing to protest The precarious position that the EU has Been put in because of the US's foreign Policy case in point he recently doubled Down on his comments that the EU should Not get involved in a conflict between The U.S and China over Taiwan France's Pro-crypto stance seems to be an Extension of this sentiment and the Countries as well as the continents Attempts to retain economic growth in The face of very bad economic Fundamentals the question is how long France can maintain this Divergent Stance well nobody knows the answer but Macron speaking of protests I'd be Remiss if I didn't mention why France May not be the best place for for a Crypto Hub besides the high taxes and Strict employment laws France will

Constantly face pressure from other Countries in the EU if it goes down this Pro-crypto path and this could even Result in punishments still if France Does continue to go against the grain it Could Inspire other countries to do the Same and not just in Europe French is one of the world's most widely Spoken languages more importantly it's Spoken in many African and Middle Eastern countries that are actively Trying to escape the US dollar it would Be easy for these kinds of countries to Follow in France's footsteps and this Could lead to other unforeseen Network Effects in both regions eventually of Course every country will realize that Crypto adoption is inevitable and Realize that the sooner they adopted the Higher they will be in the new pecking Order Game Theory at its finest And that's all for today's video If you Enjoyed it smash that like button to let Me know if you want to make sure you Don't miss the next one subscribe to the Channel and ping that notification Bell Before you go if you want to make sure Your crypto friends and family are Informed be sure to share these videos With them and if you're looking to make The most of the crypto Market head on Over to the coin Bureau deals page for Discounts on crypto hardware and Software and thousands of dollars of

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