Joseph Chee, Executive Chairman of Solana Co., said during Korea Blockchain Week that China will eventually find a way to regulate or manage cryptocurrencies despite years of strict restrictions. He emphasized that Chinese investors, academics and developers continue to show interest in crypto despite the ban, which could push Beijing to favor management over prohibition. China banned ICOs in 2017 and declared cryptocurrency transactions illegal in 2021, while Hong Kong established a licensing regime in 2023 allowing approved platforms to serve retail investors. This two-track approach, with strict rules on the mainland and a more flexible environment in Hong Kong, could serve as a model for more flexible digital asset management going forward.
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