Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry — from price analysis to blockchain disruption. During this period, he’s authored more than 3,000 news articles for Coinpedia News
Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry — from price analysis to blockchain disruption. During this period, he’s authored more than 3,000 news articles for Coinpedia News
Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry — from price analysis to blockchain disruption. During this period, he’s authored more than 3,000 news articles for Coinpedia News
Story HighlightsSolana Company CEO Joseph Chee says China’s crypto reopening could trigger another market super cycle
China reportedly holds around 190,000 BTC in government-linked wallets, worth approximately $15.7 billion
China’s 19-measure policy aims to expand blockchain infrastructure across manufacturing, banking and data sharing
China could become a major driver of the next crypto market cycle if it finds a way to reopen access to digital assets. Solana Company CEO Joseph Chee says Beijing is using Hong Kong to test crypto regulations
Meanwhile, China’s reported Bitcoin holdings and mining activity show why any policy shift could matter to the global market
In a recent interview, Joseph Chee, CEO of Solana Company, said that China cannot afford to ignore blockchain technology despite its restrictions on cryptocurrency trading
“They are using Hong Kong as the region to test how the technology will be implemented and are going to find ways to manage it.”
Beijing continues to use Hong Kong as a testing ground for Web3 development. Hong Kong is approving regulated spot ETFs, tightening audit rules for virtual asset service providers (VASPs), and developing stablecoins such as HSBC’s RedCoin
🇨🇳Crypto bears might have another thing to worry about if this story develops.Joseph Chee says China is using Hong Kong as a testing ground for crypto regulation while exploring ways to manage digital assets.“It’s HUGEI think crypto is gonna go through another super cycle.”… pic.twitter.com/5glnhFsahu
This approach could help mainland China study how crypto markets operate under tighter rules before deciding whether to expand access
Chee believes that if China allows more crypto trading and blockchain use, the impact could be significant
“I think the crypto is going to go through another super cycle.”
Chee pointed to Asia’s large population and its early role in crypto adoption. He said restrictions in China slowed that growth, while the U.S. market gained a larger role
Despite banning crypto trading in 2021, China holds an estimated 190,000 in government-linked wallets, worth around $15.7 billion. Although the government does not officially buy Bitcoin as a strategic reserve, it remains one of the world’s largest government-linked Bitcoin holders
China also remains connected to Bitcoin mining. Estimates suggest China-linked miners control around 14% to 20% of the global Bitcoin mining power
Therefore, a reopening could bring Chinese traders and companies back into the market
“Chee believes China will eventually find a way to manage cryptocurrencies.”
China is also developing blockchain technology for uses beyond token trading. According to Xinhua, a 19-measure policy aims to build nationwide blockchain and computing infrastructure
BREAKING: 🇨🇳 China moves to establish a nationwide blockchain network to integrate blockchain technology across its economy
The plan focuses on bringing blockchain into manufacturing, banking, and data sharing, while improving data ownership rules and cross-border data flows
This suggests Beijing is continuing to explore blockchain applications even as access to cryptocurrencies remains restricted
