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The co-founder of Tether (USDT<\/a>), the world\u2019s largest stablecoin by market cap, reportedly says it\u2019s \u201cinevitable\u201d that China will reverse course and open up to crypto assets.<\/p>\n According to a new report by the South China Morning Post, Tether co-founder Brock Pierce says<\/a> that China \u2013 which banned all crypto-related commercial activity years ago \u2013 will eventually recognize digital assets as legitimate.<\/p>\n \u201cIs China going to open up [to cryptocurrencies]? \u2026 I\u2019d say it\u2019s inevitable. The question is not so much if, it\u2019s a matter of when.\u201d <\/em><\/p>\n Pierce goes on to note that he\u2019s also interested in Hong Kong as its financial authority, the Securities and Futures Commission (SFC), recently passed clear crypto guidelines for investors, also pointing out the region has potential in trade finance (tradefi).<\/p>\n \u201cI think Hong Kong is ahead in many ways. I think the main opportunity in Hong Kong is in tradefi and that\u2019s where a Hong Kong digital dollar stablecoin has tremendous potential.\u201d <\/em><\/p>\n Pierce\u2019s comments come as many crypto exchange platforms with ties to mainland China looking to become licensed in Hong Kong withdrew their applications due to regulations introduced last year by the SFC.<\/p>\n According to the report, last week, the SFC said that digital asset exchanges licensed in Hong Kong should not be serving citizens of mainland China.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The co-founder of Tether (USDT), the world\u2019s largest stablecoin by market cap, reportedly says it\u2019s \u201cinevitable\u201d that China will reverse course and open up to crypto assets. According to a new report by the South China Morning Post, Tether co-founder Brock Pierce says that China \u2013 which banned all crypto-related commercial activity years ago \u2013 […]<\/p>\n","protected":false},"author":2,"featured_media":170888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-315993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/315993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=315993"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/315993\/revisions"}],"predecessor-version":[{"id":315996,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/315993\/revisions\/315996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/170888"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=315993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=315993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=315993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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