Add as a preferred source on GoogleChina Crypto Reopening Could Fuel Next Supercycle, CEO Says
Joseph Chee said China could support Bitcoin and the broader digital-asset market if it allows tightly controlled trading while restricting stablecoin activity.
China could help drive another crypto market supercycle if Beijing restores access to trading under strict controls, Solana Company CEO Joseph Chee said in an interview aired Oct. 8.
Chee said Chinese officials have been examining crypto technology through experts and scholars, with Hong Kong serving as a hub for studying how digital assets could be regulated and relaunched. His comments point to a possible reopening rather than a confirmed policy decision.
Chee believes China may permit some form of crypto trading while restricting stablecoin trading and the global issuance of stablecoins.
China banned crypto trading and mining nationwide in 2021, citing financial and energy risks. Hong Kong, however, permits crypto trading and has developed into a major digital-asset center.
Solana Company is a Nasdaq-listed firm that holds Solana (SOL) tokens as its primary treasury reserve. Chee previously led Asia investment banking at UBS.
A reopening of mainland crypto access would mark a significant change from China’s current restrictions, but Chee’s remarks describe a possible direction under discussion rather than an announced policy change.
Chee’s comments describe a possible reopening, not a confirmed policy decision.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.