Eric Trump praised the significant role of China in shaping the cryptocurrency industry on Friday.
During the Bitcoin Asia event in Hong Kong on Friday, Trump commended about China and Hong Kong’s influence on the cryptocurrency sector. Despite China’s ban on institutional crypto trading and exchanges since 2017, Trump recognized the country’s substantial impact on the industry.
Trump also acknowledged the Middle East for its “massive” embrace of cryptocurrency and the rapid growth in the sector. He further expressed admiration for the enthusiasm for the industry in several South American countries.
He pointed out that despite China’s restrictions on crypto-related transactions, owning cryptocurrency remains legal in the country, and peer-to-peer activity continues in a legal gray area.
“There is no question that you have made an unbelievable mark on bitcoin and cryptocurrencies. There’s no question that China is a hell of a power when it comes to this world and doing it well,” Trump said.
He also highlighted Hong Kong’s adoption of crypto under a regulated pilot regime and China’s growing interest in stablecoins and tokenized real-world assets.
While in Hong Kong, Trump was promoting his American Bitcoin venture with Hut 8, his work with the DeFi project World Liberty Financial, and the Japanese bitcoin treasury firm Metaplanet.
Trump also also discussed his foray into the crypto space following the widespread debanking of Trump family businesses during the Biden administration.
Trump’s comments underscore the global influence of China and Hong Kong on the cryptocurrency industry, despite regulatory challenges.
His remarks also highlight the growing acceptance and adoption of cryptocurrency in regions such as the Middle East and South America.
This global interest in cryptocurrency, along with the ongoing legal and regulatory developments, will continue to shape the future of the industry.
Benzinga reached out to Eric Trump during the Bitcoin Asia conference for his views on China's cryptocurrency growth.
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