Tron Founder Predicts Legitimization of Crypto and Bitcoin in China

The founder of Tron, Justin Sun, believes that China could soon declare crypto and bitcoin a legitimate form of wealth.

He cited the recent introduction of a tax on crypto transactions as a sign of the government’s increasing embrace of cryptocurrencies, and that it will encourage adoption and provide a clear regulatory framework.

Sun also believes the tax could be a positive development for the global market and a precedent for other countries to follow.

However, not everyone sees the tax as a signal of a policy change, as the private use of digital assets like Bitcoin has been banned in China due to the introduction of the Central Bank Digital Currency (CBDC).

Some view the tax as a result of differing views between tax authorities and financial authorities.