Former Chinese Deputy Finance Minister Zhu Guangyao calls for attention to research on cryptocurrency

According to Sina Finance, the 2024 Tsinghua Wudaokou Chief Economist Forum was held in Beijing on September 28th. Former Vice Minister of Finance Zhu Guangyao attended and delivered a speech. Zhu Guangyao called for attention to be paid to the development of cryptocurrency. "It does have negative impacts, and we must fully recognize its risks and harm to the capital market. However, we must study the latest changes and policy adjustments internationally, as it is a crucial aspect for the development of the digital economy. Zhu Guangyao reviewed the development of cryptocurrencies. Over the past decade, the United States has believed that cryptocurrencies have a huge destructive power on international anti money laundering and counter-terrorism financing. In addition, the drastic fluctuations in the value of cryptocurrencies have had a huge impact on the international financial market. However, this year, there has been a significant evolution in US policies. Zhu Guangyao introduced that Trump's campaign platform explicitly includes cryptocurrency, and he also publicly stated, 'We must embrace cryptocurrency, otherwise China will replace us.'. The US Securities and Exchange Commission has also approved the listing of 11 Bitcoin ETFs in the stock and futures markets. In emerging market countries and BRICS countries, Russia, South Africa, Brazil, and India have also taken action.