**Crypto in the Spotlight: China's Former Finance Minister Calls for Closer Scrutiny**
In a recent summit at Tsinghua University, China's former finance minister, Zhu Guangyao, emphasized the need for Beijing to pay more attention to the crypto markets. Zhu highlighted the risks and potential harm crypto poses to capital markets but also acknowledged its role in the digital economy. đ
- Zhu pointed to international developments, including remarks by U.S. Republican Candidate Donald Trump, who advocated for the U.S. to fully embrace crypto.
- Trump likened crypto to the steel industry of 100 years ago, predicting it could one day overtake gold.
- Zhu also noted the SEC's approval of Bitcoin and Ether ETFs, despite initial resistance.
Hong Kong, in contrast, has been more welcoming, listing Bitcoin and Ether ETFs and encouraging the industry to set up shop.
What are your thoughts on China's cautious stance versus Hong Kong's open embrace? Share your views in the comments!