And not financial advice.”Ĭhangpeng Zhao has plenty of reasons to be bullish. Historically, coverages like these led to bull runs. The Chinese-speaking communities are buzzing. “CCTV (China Central Television) just broadcasted crypto. According to Zhao, past coverages similar to the one on China Central Television have historically sparked bull runs in the crypto markets. In response to the coverage, Zhao took to Twitter to predict that the coverage could lead to a bull run in the crypto market, going by previous instances. The broadcast on China’s largest state-run broadcaster caught the attention of crypto enthusiasts, including Binance CEO Changpeng Zhao. However, the Securities and Futures Commission has yet to approve any virtual asset trading platform for retail investors.Īs a result of the broadcast of a segment on Chinese Central Television, the larger cryptocurrency ecosystem is buzzing with excitement. It was previously reported that the guidelines in question would become effective by June 2023. According to the segment, the regulators are ready to begin accepting applications from virtual asset trading platforms.ĭuring the segment, an official representing the Securities and Futures Commission (SFC), Zhonghui Cai, explained that virtual asset regulation faces several challenges, such as the potential for conflict of interest between platforms and clients, cybersecurity, and the surety of client assets. According to the details available, the segment reported that regulators in Hong Kong have made “final preparations” for trading virtual assets in the special administrative region. On the 23rd of May, 2023, the state broadcasting corporation, China Central Television (CCTV), aired a segment discussing the adoption of cryptocurrencies. The CCTV programming has an audience of over 1 billion and could spark a bull run based on past examples. Binance CEO Changpeng Zhao has said that he believes the crypto space could see the beginning of a bull run after China Central Television aired a segment on crypto.
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