HashKey Capital's CEO revealed that China might be shifting its crypto policy, based on statements from the company's CEO, Chao Deng.
Potential Policy Shift in China
Chao Deng, CEO of HashKey Global, stated in a CNBC interview that Beijing is re-evaluating its long-standing cryptocurrency ban. While China banned crypto trading and mining in 2013, it has continued blockchain experimentation in Hong Kong, which could become a conduit for introducing cryptocurrency on the mainland.
Global Market Reactions
China's potential policy change could have a significant impact amidst global competition in digital finance. In the U.S., President Trump's executive order to create a strategic Bitcoin reserve reflects similar interest. China's participation could infuse the crypto market with up to $1 trillion.
Current Trends in U.S. Bitcoin ETFs
As of March 24, 2025, U.S. spot Bitcoin ETFs recorded an inflow of 979 BTC. BlackRock and Fidelity were among the top performers, while ARK 21 Shares faced a decline.
Potential changes in China's crypto policy could reshape global market directions and require careful attention from investors.
