Former Finance Minister Urges China to Review Crypto Policies Amid US Acceleration

China’s Stance on Cryptocurrency

Former Finance Minister’s Call for Policy Review

During an economic forum in Beijing, ex-Finance Minister Zhu Guangyao advised China to reassess its approach to cryptocurrencies in light of rapidly changing US regulations.

Global Shifts and Policy Considerations

Recognizing the evolving global landscape, Zhu emphasized the need to understand international changes and policy adjustments to foster digital economy growth.

US Crypto Policy Changes

Impact of US Approving Bitcoin ETFs

Zhu highlighted the US’s recent decision to approve 11 Bitcoin ETFs, signaling a shift in policy towards cryptocurrencies.

Political Advocacy for Crypto Adoption

References to former President Trump and Vice President Harris promoting crypto adoption as a strategic move in the international competition.

Tron Founder’s Perspective

Appeal for China to Reconsider Crypto Stance

Tron founder Justin Sun’s call for China to review its stance on cryptocurrency following Trump’s pro-Bitcoin statements, advocating for progress in line with US policies.

China’s Caution and Openness to Crypto

Small Steps Towards Crypto Acceptance

Despite maintaining a cautious stance, China has shown signs of openness towards cryptocurrencies, such as allowing investors to access crypto through Hong Kong-based entities and the recent launch of Bitcoin ETFs in Hong Kong.