- Justin Sun seems optimistic about the crypto adoption in China.
- He shared that crypto policy in China is expected in the forthcoming months.
- TRON CEO believes crypto is a “global trend” that cannot be diverged.
H.E. Justin Sun, TRON’s founder, of Chinese descent, publicly declared China’s love for crypto, and how it was never banned. Despite many reports and news that China restricted cryptocurrency trading and mining activities since last year, which forced many crypto firms to relocate their headquarters out of the country.
The TRON founder, Justin Sun, said in a recent interview that China could shift its cryptocurrency policy. It must be noted that China banned digital assets the previous year.
The founder of the Tron blockchain network said that
China is facing a big change I think in the next month or two. I think after the new leadership, we will definitely see a lot of change in the economic policies and even lots of industry policy. And I believe crypto and the blockchain is definitely on the table.
Sun also joined the advisory board of Huobi Global, China’s largest cryptocurrency exchange. He claimed after becoming an advisor that if the regulation changes, he would like the corporation to relocate to China.
The TRON CEO, on the other hand, refused to engage in any matters despite media reports that Sun was interested in purchasing Leon Li’s shares. Leon Li, the founder of Huobi, is selling his stake in the cryptocurrency exchange to About Capital Management, a Hong Kong-based asset manager.
No matter who controls Huobi, its China goals would be contingent on a shift in mindset among the country’s leaders. China’s government prohibited crypto trading in September 2021, driving the bulk of crypto exchanges, including Huobi, out of the country. It was not the first time the nation had prohibited cryptocurrency.
Nonetheless, even after China’s most recent ban has eliminated genuine bitcoin mining in the nation, Sun remains “optimistic” about cryptocurrencies in China. Sun also added, “That is why China [will] be one of the most powerful players in the blockchain industry, even though we may face certain setbacks or regulatory hurdles in the short term.” He described crypto as a “global trend” that cannot be diverged.