Vechain CEO says China Banning Crypto Trading is Actually a Good Thing

In a recent interview where he gave an update about the current state of Vechain, Sunny Lu said that China made the right decision when it banned cryptocurrency trading That way, he said, the country eliminated all of the “bad guys” in the space and is now able to facilitate the development of blockchain technologies with actual use cases and implementations.

2019 was a successful year for Vechain

Despite an almost year-long bear market, last year was monumental for the crypto industry. Apart from a maturing market, increased adoption, and major technological developments, the industry also saw increased interest from both governments and enterprises.

It was also a great year for Vechain, at least according to its CEO Sunny Lu. The growth Vechain has seen throughout the year managed to outpace the parabolic rise it saw at the height of the crypto market back in 2017.

In an interview with Nugget’s News Alex Saunders, Lu looked back at 2019 and said it was a year of changes and challenges. The crypto industry is no longer a niche market, he explained, as major players such as Facebook began entering the space. He said that the growth of the market is also visible in the number of countries that have opened their doors to crypto companies, listing Malta and San Marino as two examples of pro-crypto governments.

However, the biggest thing that has happened to the blockchain industry is, without a doubt, President Xi Jinping’s public endorsement of the technology. Lu said that the controversial address was exciting both for him personally and for Vechain, as China is now openly pushing for the development of a technology Vechain had been working on for the past four years. Read More...

Was China Banning Crypto Trading is Actually a Good Thing?

#Vechain #China

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