Former Chinese Finance Official Calls for Crypto Research Amid Shifts in US Policy

Zhu Guangyao emphasizes the importance of cryptocurrencies for the digital economy and urges Beijing to reconsider its strict ban.

Zhu Guangyao, former Vice Minister of Finance, highlighted the significance of cryptocurrencies at the Tsinghua Wudaokou Chief Economist Forum.
He pointed out that while cryptocurrencies pose risks to capital markets, they are crucial for the development of the digital economy.
Zhu called on the Chinese government to study international crypto policy changes, particularly recent developments in the United States.
China has maintained a stringent ban on crypto activities since 2017, despite controlling a significant portion of the global Bitcoin hash rate.
Hong Kong, in contrast to mainland China, has embraced crypto, listing Bitcoin and Ether ETFs and courting the industry.