CoinEx Creator: Bull Market Continues

Haipo Yang, the founder of crypto platform CoinEx, believes that the bull market continues. According to the crypto enthusiast, the industry is “step by step approaching a stable trend.”

According to him, the main crypto coin has already gone through four bullish and bearish cycles. Their scenarios turned out to be similar: users bought BTC in anticipation of growth and lost their investments.

Yang also noted that the explosive growth in the price of bitcoin in the first quarter of last year provoked fear of lost profits among investors. However, “the bull runs of 2021 and 2017 have a difference: this cycle was launched by users from Europe and the United States, and in the past, Bitcoin was bought by residents of China.”

The crypto enthusiast also claims that his company did not notice a significant decline in interest in the platform. CoinEx expects the main digital currency to rise to new highs.

Meanwhile, the Japanese authorities may ease control over stablecoins as early as next year.
The local regulator may lift the ban on the circulation of stablecoins that were created abroad.

The new policy will primarily affect cryptocurrencies such as USD Coin and Tether. At the same time, the limit for money transfers in digital assets is planned to be set at around 1 million yen per transaction, which is about $7,500.

The Japanese Financial Services Agency noted that the new rules will come into effect from the moment the authorities review the existing legislation. The changes will state that the issuer of stablecoins developed in Japan will need to provide collateral assets as proof.

Also, the Japanese authorities will oblige issuers of stable coins to record information about transactions, and then provide it to regulators. Only banking institutions, services specializing in the transfer of funds, and trust companies will be able to issue stablecoins.