🎉 China may reconsider lifting the cryptocurrency ban?
Let's talk about a heavy topic today. China's attitude towards cryptocurrency may change because of Trump!
The reason for this topic is that Xiao Feng, CEO of HashKey Group, recently mentioned in an interview with the South China Morning Post that due to Trump's friendly attitude towards cryptocurrency, China may reevaluate their ban on cryptocurrency in the next two years.
He said that if the United States makes a clear statement on cryptocurrency policy and promotes the development of the industry, it will be a driving force for China to reconsider accepting cryptocurrency.
However, the potential shift in this policy is also due to geopolitics. As early as 2022, the United States and its allies excluded Russia from the SWIFT financial system, which made China see the importance of building alternative financial infrastructure. Xiao Feng believes that this may prompt China to accelerate its acceptance of cryptocurrency to protect its financial autonomy.
Xiao Feng also mentioned that without these external events, it may take China five or six years to accept cryptocurrency business. But now, this time may be shortened to two years.
China has been cracking down on activities such as ICOs, cryptocurrency trading and mining in the past few years, but now that Hong Kong is developing the digital asset industry, it may serve as a bridge if mainland China relaxes its regulations.
Xiao Feng also suggested that if China decides to rejoin the digital asset market, regulated stablecoins may be the initial focus. He also mentioned that a survey conducted by HashKey in Yiwu showed that many merchants have received inquiries from international buyers about using US dollar stablecoins for payment.
HashKey Group is expanding its influence globally, and they believe that the Chinese market will eventually open up, and they hope to be ready when that day comes.
What do you think? Will China reconsider cryptocurrency due to changes in the international situation? What do you think? See you in the comments!