The U.S. presidential election debate has settled, and China’s attitude towards the encryption market has also shown new trends.

Wang Yang, a senior executive at the Hong Kong University of Science and Technology, recently expressed doubts about China’s strategy of comprehensively banning cryptocurrency mining. He said that this measure caused a large number of miners to switch to the United States, contributing more than $4 billion in taxes to the latter. He suggested that instead of a complete ban, it is better to explore the possibility of state-owned enterprises participating in mining or investment to achieve effective risk management.

Wang Yang also pointed out that as the possibility of Trump becoming the Republican presidential candidate increases, China needs to re-examine the role and value of cryptocurrency. He believes that China may re-examine the nature of digital assets and consider whether it should actively embrace this emerging field, especially under the “One Belt, One Road” initiative, where asset tokenization (RWA) may become an inevitable trend.

He emphasized: “If Trump is elected, China may need to quickly reconsider relevant policies.” It is worth noting that Trump’s attitude towards Bitcoin and cryptocurrencies has changed significantly recently, expressing his support for self-custody of cryptocurrencies. Right support.

Wang Yang also shared his experience of changing his concept. He revealed that in 2012 and 2014, he twice regarded Bitcoin and blockchain as a scam, thus missing related development opportunities.

Wang Yang expressed concerns about Hong Kong’s progress in the field of blockchain technology. He believes that Hong Kong is a little slow in the service field and is content with the status quo. Instead, it should set higher goals and lead the region with firm determination and belief, including the future development of blockchain technology.

The evolution of the market is unstoppable, and opening up the cryptocurrency market may be an inevitable result of market development, just as the U.S. government has begun to embrace this emerging field.