đCrypto news:
Tether (USDT stablecoins) co-founder, former actor and 2020 US presidential candidate Brock Pierce is confident that Chinese authorities will lift the ban on cryptocurrencies. âWill China open up to cryptocurrencies? I can say that it is inevitable. âThe main question is not if it will happen, but when it will happen,â he said.
In 2021, the Chinese government included digital asset trading and mining in the list of illegal activities. However, a gray crypto market has developed in the country. Pierce believes Hong Kong could become China's cryptocurrency trading hub. However, this is not currently the case as the Securities and Futures Commission (SFC) of this administrative region of China has banned local companies from providing digital asset services to mainland Chinese residents. As a result, many companies have withdrawn their applications for virtual currency trading licenses filed with the SFC.
