Eric Trump praised on Friday the significant role China played in shaping the cryptocurrency industry during his participation in the Bitcoin Asia conference held in Hong Kong.
Despite the strict ban imposed by Beijing since 2017 on cryptocurrency trading through institutions and exchanges, Trump confirmed that China's influence remains profound in this field, noting that individual ownership of cryptocurrencies within China remains legal, while peer-to-peer activity continues in a legally gray area.
Trump added:
"There is no doubt that you have left an exceptional mark on Bitcoin and cryptocurrencies. And there is no doubt that China is a tremendous force in this world and is doing it well."
He also praised Hong Kong for adopting a regulated pilot system for cryptocurrency adoption, and noted China's growing interest in stablecoins and digital assets tied to the real economy.
His remarks were not limited to China, but he also referred to:
The Middle East, which he described as witnessing a "massive demand" for cryptocurrencies and rapid growth in this sector.
South America, where he observed an increasing enthusiasm for financial technology and blockchain.
Trump also clarified that his entry into the crypto world came after what he described as the "banking exclusion" that many of his family's companies faced during President Joe Biden's administration.
Where he is currently working on several projects in this field, the most prominent of which are:
The American Bitcoin project in collaboration with Hut 8.
His participation in the decentralized finance project World Liberty Financial.
Collaboration with the Japanese treasury company for Bitcoin Metaplanet.
Eric Trump's statements reflect the fact that Chinese and Asian influence on cryptocurrencies is still strong despite regulatory challenges, and they highlight the global expansion of cryptocurrency adoption in various regions such as the Middle East and South America, which will directly impact the future of the industry.