Sun encourages the United States and China to engage in constructive competition in order to enhance the policies of each nation with respect to Bitcoin.
Justin Sun, the founder of the Tron blockchain, has urged China to reconsider its stance on Bitcoin policy, particularly in light of the United States’ recent shift toward more favorable Bitcoin policies following the public declaration of former President Donald Trump’s support for Bitcoin (BTC) and the crypto sector.
In the event that China also improves its Bitcoin policies, Sun is of the opinion that the resulting competition between the United States and China in the development and implementation of Bitcoin policies could advance the entire industry.
“China must also increase its efforts.” The policies of the United States have become more accommodating since President Trump advocated for Bitcoin. China should continue to advance in this field. In a recent post on X, Sun stated that the entire industry will benefit from the competition between China and the US in Bitcoin policy.
Sun’s statement is in response to Trump’s recent keynote address at the Bitcoin 2024 conference in Nashville, during which the Republican candidate pledged to appoint SEC Chair Gary Gensler and establish a strategic Bitcoin reserve if elected.
BitcoinTreasuries.net and Arkham Intelligence data indicate that China and the United States possess substantial quantities of Bitcoin, with a combined holding of 400,000 BTC. Approximately $14.8 billion is the current value of the 213,000 BTC that the United States government possesses.
However, their regulatory paths diverge, as the United States has reviewed its posture in response to Trump’s influence, while China has maintained stringent crypto restrictions since 2017.
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