The former Binance CEO said that the Chinese government’s lack of transparency overall made it difficult to predict any crypto policies.
Former Binance CEO Changpeng “CZ” Zhao said China would be one of the countries to adopt a strategic Bitcoin reserve, possibly following in the footsteps of a plan proposed by the incoming United States presidential administration.
Speaking at the Bitcoin MENA conference in Abu Dhabi on Dec. 9, Zhao said he believed “smaller countries” would likely be the first to adopt a Bitcoin (BTC) reserve, but the change could happen slowly. The former Binance CEO added that China’s position on crypto was “harder to predict” given the lack of transparency from its government.
“Trump has not gotten into office yet, and the strategic Bitcoin reserve has not been activated yet, so I think as soon as that actually happens, we’ll see what other countries do,” said Zhao.
