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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Analyst Predicted Countries to Create Pro Crypto Economic Zones in 2018, Rapid Progress

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read

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Nine months ago, prominent crypto analyst Nic Carter made a bold prediction that in less than a year, at least one “nation state” would announce the creation of a Special Crypto-Economic Zone.

Today, Carter’s prediction rings true with a number of countries such as the Philippines, South Korea, and Thailand are working to create an environment where crypto and blockchain businesses can flourish.

Introduction of Pro-Crypto Economic Zones Progressing Rapidly

Coinmetrics co-founder and partner at Castle Island Ventures, Nic Carter, is an expert and analyst focusing on cryptocurrency fundamentals. In April 2018 Carter made a lofty prediction that within the next twelve months, a nation state would have created the first-ever Special Crypto-Economic Zone.

Not only was Carter’s prediction correct, far more progress has been made than even he anticipated.

Probably less than 12 months until a nation state announces a Special Crypto-Economic Zone

— nic 🌠 carter (@nic__carter) April 13, 2018

Special Economic Zones have long been a practice of countries seeking to bring new business, growth, and innovation within their borders, by creating a geographically-limited area that has unique economic rulesets that differ from the rest of the region. Oftentimes, trade laws, tax breaks, lax regulations and more are offered as a way to lure companies and thus job growth to their countries, which also drives revenue and brings positive attention to the region.

Crypto and blockchain startups often struggle due to limited cash flow, strict regulatory climate, and more, which can throttle innovation across the industry. They often face an uphill battle that’s only become more complicated as the bear market continues.

Related Reading | Bitcoin Mainstream Adoption in Philippines is Rapidly Increasing

In the Philippines, for example, more than two dozen cryptocurrency exchange licenses were issued by the Cagayan Economic Zone Authority, offering economic benefits that include tax exemptions and more. However, these tax exemptions and other benefits are geographically-restricted to the Cagayan Special Economic Zone.

South Korea is also hoping to encourage the growth of the blockchain and crypto industry within its borders. Jung Byung-guk of South Korea’s Bareunmirae Party proposed a “regulation-free blockchain and cryptocurrency special zone,” late last year.

Elsewhere in the country, Won Hee-ryong, Governor of the South Korean island of Jeju, sees blockchain as “an opportunity for Korea to take the lead in global internet platform [development].” An official for the Jeju government explained that the country is “currently in the process of a reshuffle to create a department dedicated to developing the blockchain industry on the island,” suggesting that the island will soon become a hub for crypto businesses in the near future.

Thailand is yet another Asian country with welcoming crypto policy and is working toward becoming a crypto haven. It’s caused the country’s Securities and Exchange Commission to experience a surge in applications from cryptocurrency exchanges seeking to become licensed in the region.

Related Reading | Thailand Stock Exchange Applies for Digital License for Crypto Trading

Once the rest of the global community realizes the edge that these countries are giving crypto and blockchain businesses, and the innovation and value these firms generate, even more countries should follow suit and begin creating a more encouraging environment through pro-crypto economic zones.

Featured image from Shutterstock
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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