Overview

• Zhu Guangyao, former Vice Minister of Finance, highlighted the significance of cryptocurrencies at the Tsinghua Wudaokou Chief Economist Forum.
• He pointed out that while cryptocurrencies pose risks to capital markets, they are crucial for the development of the digital economy.
• Zhu called on the Chinese government to study international crypto policy changes, particularly recent developments in the United States.
• China has maintained a stringent ban on crypto activities since 2017, despite controlling a significant portion of the global Bitcoin hash rate.
• Hong Kong, in contrast to mainland China, has embraced crypto, listing Bitcoin and Ether ETFs and courting the industry.