Tether co-founder Brock Pierce is convinced that the Chinese government will lift the ban on mining and trading cryptocurrencies introduced in 2021.
Source Brock Pierce suggested that Hong Kong could become the main center for trading digital assets, and legal platforms will definitely replace underground companies.
"Will China become open to cryptocurrencies? I can say that this is inevitable. The main question is not whether it will happen or not, but when exactly it will happen," he said.
Pierce believes that the Chinese government can use Hong Kong's infrastructure to allow cryptocurrency trading, and, most likely, separate regulations will be adopted allowing foreign crypto exchanges to conduct their activities.
Earlier, the head of the policy department of Chainalysis in the Asia-Pacific region, Chengyi Ong, called the Chinese ban on cryptocurrencies ineffective.