TechFlow news — The 2024 Tsinghua PBC School Chief Economist Forum was held in Beijing on September 28, where Zhu Guangyao, former Vice Minister of Finance, attended and delivered a speech. Zhu called for greater attention to the study of cryptocurrency development. He pointed out that although cryptocurrencies carry negative impacts and risks, it is essential to examine international developments and policy shifts, as they are crucial to the development of the digital economy.
Zhu reviewed the evolution of cryptocurrencies, noting that for over a decade, the United States has viewed them as posing significant threats to international anti-money laundering and counter-terrorism financing efforts, with their price volatility also impacting global financial markets. However, he highlighted a major shift in U.S. policy this year, as Trump's campaign platform explicitly included cryptocurrency, with a public statement asserting, "We must embrace cryptocurrency, or China will replace us."
In addition, the U.S. Securities and Exchange Commission has approved 11 Bitcoin ETFs for listing on stock and futures markets. Zhu also noted that emerging market and BRICS countries—including Russia, South Africa, Brazil, and India—are taking active steps in the field of cryptocurrency.
