Justin Sun calls for unified crypto regulation News ▸ China · Singapore ▸ Regulation
Justin Sun calls for unified crypto regulation
Sun said regulations are healthy for the crypto sphere and added that TRON is willing to cooperate with the lawmakers on a global level.
1 min read
Updated: Jul. 24, 2023 at 6:39 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Tron DAO (TRX) founder and Huobi Global adviser Justin Sun said regulations are beneficial for the crypto industry. and added that a globally unified rule would complement the spirit of blockchain in an exclusive interview he gave CNBC.
Sun explained that blockchain technology emerged to set a global standard for financial interactions, and therefore an international regulatory framework would be a good fit for the crypto industry.
He stated:
“I believe a unified regulation is also good for the industry, because blockchain itself is focusing on providing unified standards for global payments and settlements.
So that’s why we are also willing to collaborate with governments to come up with a unified blockchain standard.”
Asia to dominate next bull run
Sun stressed that regulations would significantly benefit users in Asia, who need “certainty and security.”
According to Sun, the Asian markets “with a transparent and clear regulation” will dominate the next bull run in crypto in 2023 and 2024. Sun said that clear regulatory frameworks provide full transparency into the industry, attracting high-net-worth individuals.
Finally, Sun briefly talked about how Singapore and Hong Kong compete in attracting Web3 companies into their lands. “They basically play different roles,” Sun said, as Hong Kong launched Web3 sponsorships and Singapore tightened the rules to provide more security.
Hinting that the rest of the world might also take some steps to encourage Web3 development within their borders, Sun said:
“I think this [competition] will also happen between the US government and other governments as well.”
Mentioned in this article
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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TRON is one of the largest blockchain-based operating systems.
TRON DAO
TRON is dedicated to building the infrastructure for a truly decentralized Internet.
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.
