🔥🔥The US presidential debate has ended, and the Chinese crypto market may be unblocked

Background brief

As the dust of the US presidential debate has settled, the world's attention has turned to the East, paying attention to the future direction of China's crypto market. Wang Yang, vice president of the Hong Kong University of Science and Technology, recently spoke out and put forward unique insights on China's current cryptocurrency policy.

Wang Yang's point of view

Reflection on the total ban on mining: Wang Yang believes that China's decision to completely ban cryptocurrency mining is "very unwise". This move has caused a large number of miners to flow to the United States, bringing the latter up to $4 billion in tax revenue.

Proposal for state-owned enterprises to mine or invest: He suggested that it would be better to let state-owned enterprises participate in mining or invest to ensure that risks are effectively controlled.

Impact of Trump's election: If Trump comes to power, China may need to "re-evaluate all these policies" because Trump's recent stance on Bitcoin and cryptocurrency has undergone a 180-degree turn, and he has publicly expressed support for the self-custody of cryptocurrencies.

Hong Kong and blockchain

Current situation in Hong Kong: Wang Yang bluntly stated that Hong Kong is "too slow" in blockchain services and seems to be satisfied with the status quo.

The future of Hong Kong: He called on Hong Kong to have higher goals, determination and even faith to lead the development of the entire region, including the future direction of blockchain technology.

Market trends

Market-driven inevitability: Opening up cryptocurrencies is an inevitable result of market-driven, just as the US government has gradually accepted this trend.

Unchanging truth: Although market changes are not achieved overnight, there will always be a time when they are changed by the market.

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