Justin Sun has called for China to adopt more crypto-friendly policies. His comments follow Donald Trump’s support for cryptocurrencies as a national reserve asset.
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China banned cryptocurrencies in 2021, labeling them as harmful, but Sun argues that embracing digital assets could be beneficial.
Justin Sun Urges China to Reconsider Crypto Ban Amid US Political Shifts
TRON DAO Founder Justin Sun recently posted on X, urging China to advance its cryptocurrency policies. His call for change comes in the wake of former US President Donald Trump’s endorsement of Bitcoin as a national reserve asset.
Source: X
China initially imposed restrictions on cryptocurrencies in 2017, declaring them harmful. This stance intensified in 2021 with a complete ban on crypto activities. The People’s Bank of China (PBOC) justified the ban by citing the need to mitigate financial risks and prevent financial crimes, as well as to address concerns about capital flight.
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Sun’s comments are notable against the backdrop of shifting attitudes towards cryptocurrencies in the US, particularly with Trump’s recent pro-crypto stance. This contrast highlights the evolving global perspectives on digital assets as the 2024 election approaches.
Recently, former President Donald Trump expressed strong support for increasing cryptocurrency acceptance in the United States. At the Bitcoin Conference in Nashville, Trump reiterated his vision to position America as a “crypto capital,” endorsing Bitcoin as a strategic reserve asset.
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Motivated by these developments, TRON DAO Founder Justin Sun has called on China to adopt more crypto-friendly policies. In a post on X, Sun suggested that China should follow the US’s lead, stating:
“China also needs to step up. Since President Trump pushed for Bitcoin, U.S. policies have warmed. China should make further progress in this area. Competition between China and the U.S. in Bitcoin policy will benefit the entire industry.”
Earlier this month, Sun achieved a legal victory against a media group that had published false and defamatory content about him. This victory is seen as a sign of growing acceptance of cryptocurrencies in China, indicating a potential shift in the country’s restrictive stance towards digital assets.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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