Trump election victory cheers up cryptocurrency proponents in China

Posted on by The Esbec Team
Trump election victory cheers up cryptocurrency proponents in China
07
Nov
“Trump’s pro-crypto stance is expected not only to invigorate the US virtual-asset industry, but also to encourage Hong Kong to further relax its own virtual-asset policies in its quest to become a global Web3 hub,” said Livio Weng, chief executive of Hong Kong-based cryptocurrency trading platform HashKey Exchange.

“This shift could also positively influence regulatory attitudes toward virtual assets in mainland China,” he added.

That reflects the enthusiasm of many Mandarin-speaking crypto-focused users on Elon Musk’s X, as they posted their congratulations to Trump on the social-media platform formerly known as Twitter, while also extolling a new all-time high reached by bitcoin on Wednesday, with some expressing good days ahead for the industry.

At one point on Wednesday, bitcoin prices reached above US$75,000, having gained more than 66 per cent since the start of this year.

Source

The Esbec Team

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