Happycoin.club - The founder of the Tron (TRX) blockchain project, Justin Sun, called on the Chinese authorities to reconsider their policy towards cryptocurrencies.
China also needs to take a step forward. Due to Trump's popularization of Bitcoin, the US government has become more favorable towards digital assets. China should develop in this area. Competition between China and the United States in the field of cryptocurrency legislation will benefit the entire industry, Sun wrote.
Chinese officials banned trading and mining of cryptocurrencies in 2021, but local residents have learned to bypass the restrictions and created a shadow market for digital assets. For example, the Chinese buy and sell coins to underground dealers and, to avoid unwanted attention from regulators, make transactions worth no more than 50,000 yuan (âœ595,000).
However, US presidential candidate Donald Trump believes that China will dominate the cryptocurrency industry if Americans do not try to take a leading position in the industry. The politician claims that the Celestial Empire has made great progress in the field of blockchain. Apparently, he is referring to government projects in the field of using this technology, in particular, the release of a digital currency by the central bank of the PRC, which took place in 2020.
