Justin Sun believes China will ease up on regulations toward cryptocurrencies and let them back
In a most recent interview with Bloomberg, Emily Chang and Tron CEO Justin Sun discussed the most recent developments in the crypto industry, including the acquisition of Celcius assets and a possible return to China after the global crypto industry crackdown.
According to Sun, it is one of the best times to return to the cryptocurrency market considering the state of most assets, which have reached their bottoms because of the unpleasant market conditions and the monetary policy tightening in the United States.
China’s complicated relationship with crypto
As for China, Sun believes the country will become crypto-friendly, despite being “anti-bitcoin” and anti-mining. However, the Tron co-founder believes in easing the anti-crypto narrative before the implementation of central bank digital currencies.
However, most cryptocurrency and decentralization enthusiasts do not believe CBDC will be safe to use, and countries like China will simply use it as an alternative for regular digital currencies.
Justin Sun joins Huobi
Last week, Sun announced that it was joining one of the world’s largest centralized exchanges as part of an advisory board. The Grenada ambassador said he would aim to develop the Huobi token. Earlier, he shared that Huobi’s utility tokens form a large part of their portfolio, and they have been actively hoarding it since its inception.
Both of those news and additional purchasing caused a massive 100% rally on HT, which reached a local high of $8. The active profit taking caused a 10% correction, but the nature of the reversal is purely technical, and it is not yet clear if the rally on HT is over or not.
At press time, HT is trading at $7.3 with a slight reversal of 0.6% over the past 24 hours.
