Binanceย Cryptoย exchange CEO Changpeng Zhao (CZ) wasย releasedย a tweet on Wednesday keepingย inย mindย that China Central Television (CCTV) recently put out a broadcast related to digital assets.ย
The executive arguedย that similar coverage has served as a catalyst for cryptocurrency bull runs in the past.ย
- CZ provided a link to the broadcast which aired on May 23, and included a 98- Second segment about Hong Kong regulatoryย authorities โImplementing a mandatory licensing system for virtual investment trading platforms,โ beginning June 1.ย
- Theย latestย information itself wasnโt entirely positive for the industry, with SFC guidelines including regulations not to incentivize retail trading through cryptoย stablecoins, and others explicitly banning cryptocurrency โgiftsโ (likely including airdrops).ย
- Nevertheless, CZ viewed the act of broadcasting cryptocurrency alone to be a massively positiveย tendency development, calling it a โbig deal.โ
- โThe Chinese-speaking communities are buzzing,โ he stated. โHistorically, coverages like these led to bull runs.โ
- The CEO madeย itย clearย that his tweet was not โfinancial advice,โ and that the past does not predict the future.ย
- Mainland China has banned cryptocurrency altogether, but Hong Kong has chosen to press on with ambitions to become a regional cryptocurrency hub. Even after Chinaโs ban, a sizable portion of Bitcoinย (BTC) mining activity still persistsย to flourish in the region.ย
- In his replies, CZ agreed with a commenter that a bull market effectively canโt happen without Chinese people being involved.ย
- CZ was born in China, but has been a Canadian citizen since the age of 12. Heโs asserted on numerous occasions that Binanceย Cryptoย exchange is not a Chinese company.ย
