{"id":4904,"date":"2022-12-16T16:45:30","date_gmt":"2022-12-16T08:45:30","guid":{"rendered":"https:\/\/blog.btse.com\/?p=4904"},"modified":"2023-03-07T03:03:30","modified_gmt":"2023-03-07T03:03:30","slug":"btse-ceo-henry-liu-shares-industry-outlook-at-taipei-blockchain-week-2022","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/btse-ceo-henry-liu-shares-industry-outlook-at-taipei-blockchain-week-2022\/","title":{"rendered":"BTSE CEO Henry Liu Shares Industry Outlook at Taipei Blockchain Week 2022"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">There\u2019s no question that now\u2019s the best time to build.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cInnovation front-runs regulations, always,\u201d said Henry Liu, CEO of BTSE, during a crypto exchange roundtable at Taipei Blockchain Week 2022 on December 13. \u201cHowever, it doesn\u2019t mean regulations are a bad thing. Instead, we should be thinking, how do centralized exchanges get to the table and contribute to what the regulators are talking about? If you\u2019re not at the table, you\u2019re on the menu, right?\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This past week, three panelists representing centralized exchanges answered much-anticipated questions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moderated by Richard Chen, Founder of Iterative Ventures, this panel discussion included Henry Liu \u2013 CEO of BTSE, Winston Hsiao \u2013 Co-founder and CRO of XREX, and Josh Lu \u2013 Investment Strategy Director at BingX. The panelists shared their views on the possible future for centralized exchanges (CEXs) and how the industry\u2019s landscape has changed after the FTX fallout.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>Some Topics Discussed and Key Takeaways<\/b><b><\/b><\/h2>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Proof of Reserves (PoR) and Proof of Solvency<\/b><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">PoR gives verifiable proof to provide some customer assurance, but it does not take a company\u2019s liabilities into account.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Users need to keep in mind that it is not an accurate representation of a platform\u2019s stability.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The industry is in need of qualified auditors and standardization.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">However, global standards have yet to be defined, as every jurisdiction has its own set of standards when it comes to auditing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">CEXs need to figure out the standards that comply with the regulations set forth for products and services offered in different regions.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Regulations<\/b><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It is expected that greater oversight and stronger governance will be put in place in the coming years, which can be challenging for CEXs. But such oversight is vital to helping the industry regain mainstream trust.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Similar to regional banks, exchanges should be regulated and governed in the regions they operate in.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>What to look out for when choosing an exchange to trade with<\/b><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u201cYou want to trade with exchanges that have an open line of communication to you. That\u2019s the start.\u201d \u2013 Henry Liu, CEO of BTSE.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Future outlook\u00a0<\/b><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Users will still be looking for the next opportunity while being more careful and paying more attention to where their funds are being held.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">For all Web3 projects, infrastructure, etc, now is still the best time to build.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The panelists equally agreed with the notion that cryptocurrencies are no longer the new kid on the block. There are existing frameworks that the industry can follow and practices that one should not be doing.<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><i>Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i><a href=\"mailto:feedback@btse.com\"><i>feedback@btse.com<\/i><\/a><i> or on Twitter @BTSE_Official.<\/i><\/p>\n<p class=\"p1\"><i><span style=\"font-weight: 400;\">Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s no question that now\u2019s the best time to build.\u00a0 \u201cInnovation front-runs regulations, always,\u201d said Henry Liu, CEO of BTSE, during a crypto exchange roundtable at Taipei Blockchain Week 2022 on December 13. \u201cHowever, it doesn\u2019t mean regulations are a bad thing. Instead, we should be thinking, how do centralized exchanges get to the table [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5522,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-4904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BTSE CEO Henry Liu Shares Industry Outlook at Taipei Blockchain Week 2022 &#8212; BTSE Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.btse.com\/blog\/btse-ceo-henry-liu-shares-industry-outlook-at-taipei-blockchain-week-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTSE CEO Henry Liu Shares Industry Outlook at Taipei Blockchain Week 2022\" \/>\n<meta property=\"og:description\" content=\"There\u2019s no question that now\u2019s the best time to build.\u00a0 \u201cInnovation front-runs regulations, always,\u201d said Henry Liu, CEO of BTSE, during a crypto exchange roundtable at Taipei Blockchain Week 2022 on December 13. \u201cHowever, it doesn\u2019t mean regulations are a bad thing. 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