Former Chinese Govt. Official Urges Crypto Development Amidst U.S. Policy Shift

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The former vice minister of China’s Ministry of Finance, Zhu Guangyao, has urged the country to examine global policy adjustments on cryptocurrencies as part of the development of the digital economy. Guangyao’s remarks came amid a recent Chainalysis report indicating that over-the-counter (OTC) crypto brokers in China have witnessed a surge in activity, with investments topping $75 billion in the past nine months. “Trump’s campaign platform explicitly included cryptocurrencies, and he also publicly stated: We must embrace cryptocurrencies, otherwise China will replace us,” Guangyao added.