Tron TRON/USD founder Justin Sun has urged China to rethink its stance on cryptocurrency following former President Donald Trump‘s recent support for Bitcoin BTC/USD.
What Happened: “China also needs to step up. Since President Trump pushed for Bitcoin, US policies have warmed. China should make further progress in this area,” Sun tweeted on July 28.
Sun’s remarks came in response to Trump’s speech at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27.
Trump emphasized the necessity for the US to embrace cryptocurrency to prevent China from gaining dominance in the sector.
“If we don't embrace crypto and Bitcoin technology, China will. Other countries will,” Trump stated. “They'll dominate, and we cannot let China dominate. They are making too much progress as it is.”
Contrary to Trump’s adversarial tone, Sun views the competition between the U.S. and China over Bitcoin policy as beneficial for the industry.
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“Competition between China and the US in Bitcoin policy will benefit the entire industry,” Sun noted.
Sun has long advocated for China to adopt a more favorable approach to cryptocurrency.
Earlier this month, he argued that the perception of China's anti-crypto stance is exaggerated, suggesting that the country could play a more active role in the global crypto market.
What’s Next: As the global cryptocurrency landscape continues to evolve, the interplay between major economies like the U.S. and China will be crucial.
Industry experts and enthusiasts will have the opportunity to explore these dynamics further at Benzinga’s Future of Digital Assets event on Nov. 19, where the future trajectory of digital assets will be a key topic of discussion.
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