China Could Trigger the Next Bitcoin Supercycle: What's Stopping It?
China could set off the next Bitcoin supercycle if Beijing lets its citizens trade under tight controls. This is according to former UBS banker Joseph Chee, who gave no timeline. Chee previously ran Asia investment banking at UBS. He now leads Solana Company, a Nasdaq-listed firm that holds the Solana (SOL) token as its treasury asset. Sponsored Sponsored Hong Kong Is Chinas Crypto Test Run Crypto trading is still illegal on the mainland. In February, the Peoples Bank of China (PBOC) and seven other agencies restated that ban and kept stablecoins behind prior government approval. Speaking on CNBCs Squawk Box Asia, the former UBS executive said Beijing follows the technology closely through think tanks and academics. According to Chee, officials are using Hong Kong to test how crypto can be rolled out and controlled. “When the Chinese government find a way to manage this and allow access to trading crypto… I think the crypto is going to go through another super cycle,” Chee stated. He added that, for now, Beijing may not allow trading or onshore issuance of stablecoins, tokens pegged to a currency such as the US dollar. Whats Stopping China From Reopening Crypto Trading? Chee named two hurdles: Sponsored SponsoredFirst, the officials who would supervise the market need to understand it.The









