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- Justin Sun seems optimistic about the crypto adoption in China.
- He shared that crypto policy in China is expected in the upcoming month.
The TRON Founder, Justin Sun said in his recent interview with Blomberg that China could shift its cryptocurrency policy. It must be noted that China banned digital assets in the previous year.
Justin Sun ‘Point of View’ on Crypto Policy in China
The founder of the Tron blockchain network said that “Definitely for the crypto policy in China, I’m optimistic. China is facing a big change I think in the next month or two. I think after the new leadership, we will definitely see a lot of change in the economic policies and even for lots of industry policy. And I believe crypto and the blockchain is definitely on the table.”
In addition, on October 10, 2022 Sun joined an advisory board for Huobi Global, which was once China’s top crypto exchange. After becoming the advisor he says he would like the company to come-back to China if the policy change happens.
Sun further said he is among the top holders of Huobi’s native token HT, as he said “Yes, I own lots of HT tokens for sure. I will say tens of millions. Some of it I already owned before I became an advisor since I used HT since day one. When Huobi first founded in 2013, I started to accumulate HT on my own. But right right now, I will definitely see myself as one of the biggest HT holders.”
However, it can be seen that in August 2022, Sun refused “engaging in any matters” relating to a Bloomberg story that cited anonymous reference which stated that Sun had shown an interest in purchasing Leon Li’s shares. Leon Li is the founder of Huobi, and is selling his shares in the crypto exchange to Hong Kong-based asset manager, About Capital Management.
Over this, About Capital made the statement that Huobi will “embrace a series of new international brand promotion and business expansion initiatives,” including “the injection of sufficient capital in margin and risk provision fund.”
On the other hand, Sun explained over the same as “Having completed its exit from the mainland China market, Huobi Global will be embarking on a series of branding activities and business developments after the acquisition. Instead of releasing new tokens, our key focus will be on supporting the Huobi Token (HT) to strengthen its place in the virtual assets industry.”
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
