Amid increasing discussions surrounding the crypto regulation landscape, a former senior official from China’s Ministry of Finance has urged the government to reconsider its stringent ban on virtual assets.
According to a South China Morning Post report, Zhu Guangyao, vice minister from 2010 to 2018, highlighted the importance of cryptocurrencies to the Asian country’s digital economy at a recent economic forum in Beijing.
Zhu’s remarks come at a time when the United States has significantly altered its cryptocurrency policy, prompting experts in China to advocate for a similar reevaluation.
The former minister highlighted that while cryptocurrencies pose certain risks—such as capital market volatility and potential misuse for illegal activities—they are also essential for advancing the digital economy.
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