While China rejects crypto, the U.S. government recommends its adoption
While China has maintained its ban on cryptocurrency trading and mining since 2021, U.S. Vice President JD Vance has urged the United States to capitalize on this situation by adopting $BTC bitcoin, the world's largest cryptocurrency. Vance made these statements on Wednesday at the Bitcoin Conference in Las Vegas.
According to Vance, the U.S. should consider why its main adversary, the People's Republic of China, is so opposed to bitcoin. He suggested that if China is distancing itself from bitcoin, it could be advantageous for the U.S. to adopt a more favorable stance towards the digital asset.
Vance's statements come amid ongoing efforts by the White House to reform monetary policy regarding cryptocurrencies, as the vice president views bitcoin as a strategically important asset for the U.S. over the next ten years. He praised President Donald Trump's executive order in March, which established a strategic reserve of bitcoin using tokens already owned by the government.
