China Unbans Crypto? Justin Sun Sparks Rumors, No Official Word Yet

Justin Sun Fuels Speculation

For a number of months now, rumours have been going around about China’s decision to probably unban crypto, especially when some influential people started to talk about it. Recently on Twitter, Justin Sun Tron – the founder of TRON – hinted on China’s unbans cryptocurrency using a vague phrase that bewildered many followers at first. 

It sent a wave of excitement among traders and fans in the cryptocurrency world. Subsequently, other significant figures followed suit and increased its visibility which only served to provoke more speculations.

Suggested Read: First Virtual Currency Fraud Case In China Takes Place

No Official Word from the China Government

Despite the growing buzz, the China government has yet to release any official statement confirming these rumours. The lack of clarity from Beijing leaves the crypto community in a state of uncertainty. 

While Justin Sun’s tweet and the ensuing social media activity have sparked hope, it is important to note that there has been no concrete evidence or confirmation from Chinese authorities. This ambiguity continues to fuel debate and caution among investors.

CoinDesk Report Raises Questions

• In addition to this speculation, CoinDesk has recently reported that ETFs based in Hong Kong are not available in mainland China; thus making the matter quite complex. 

• Such reportage has elicited further inquiries and conversations among people dealing with cryptocurrencies who are questioning whether there is any possibility for the so-called re-legalization or if it’s just an imaginary illusion. 

• Absent some definitive pronouncement from Beijing, the question of cryptocurrencies’ legal status in China continues to be hotly contested and enigmatic. 

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