1. Former Finance Minister's Speech
2. China's Reaction via Hong Kong ETFs
3. Global Changes in the Crypto Sphere

Former Chinese Finance Minister Zhu Guangyao called on China to rethink its crypto policy in light of the USA’s fast-tracked Bitcoin ETF advancements during an economic forum in 2024.

Former Finance Minister's Speech

At the 2024 economic forum, former Chinese Finance Minister Zhu Guangyao urged Beijing to review its crypto policy, stressing the importance of staying timely with global changes. He referred to the US endorsement of 11 Bitcoin ETFs this year, warning, 'If China falls behind, its roles in the evolving digital economy will be compromised.'

China's Reaction via Hong Kong ETFs

China has allowed crypto investments by Hong Kong-based firms, signaling cautious progress in its crypto stance. Zhu Guangyao added that China needs to study policy shifts in other nations, especially as the US accelerates crypto developments like Bitcoin ETFs. This slow and deliberate change underscores China’s awareness of the global impact.

Global Changes in the Crypto Sphere

Zhu Guangyao’s calls reflect broader concerns about the US gaining ground in crypto policy. He pointed to increasing support for crypto among world leaders, from Donald Trump to presidential candidate Robert F. Kennedy Jr. China's cautious steps, like Hong Kong's ETF initiatives, could potentially pave the way for broader adoption within the country.

Zhu Guangyao's calls for a renewed crypto policy highlight the necessity of staying abreast of global changes and adapting to new realities to remain competitive in the evolving digital economy.