Following Donald Trump’s U.S. election victory, debates have intensified around China’s stance on cryptocurrencies. A Hong Kong-based crypto leader, Xiao Feng, suggested that Beijing might reconsider its ban on digital assets if the U.S. strengthens regulatory clarity under Trump’s administration.
Trump's Policy and Its Effect on China
HashKey Group Chairman and CEO Xiao Feng noted that Trump’s pro-crypto direction could indirectly nudge China toward policy revisions. A clear U.S. regulatory approach could influence China to reassess its restrictions on trading and mining.
Economic Stimulus in China
China’s ban on cryptocurrency trading and mining, in place since 2021, might face changes if the U.S. takes the lead in creating favorable crypto policies. Feng projected a cautiously positive outlook, estimating that Beijing could ease its grip on digital assets within two years if U.S. policies create a suitable environment.
Impact on U.S. Crypto Reserves
Trump’s stance could accelerate U.S. crypto adoption, though challenges regarding Bitcoin reserves remain. Despite potential policy shifts, issues will persist concerning the implementation of cryptocurrency systems at the national reserve level.
Trump’s stance on cryptocurrencies may significantly impact global financial policies. While the U.S. might face domestic challenges, China may potentially adapt its stance to follow global trends.
