Bitcoin News Today: Hong Kong Officials Exit Trump-Linked Crypto Conference Amid U.S.-China Tensions

Eric Trump, son of US President Donald Trump, has made headlines at the Bitcoin Asia 2025 conference in Hong Kong, where he described China as “a hell of a power” in the cryptocurrency sector despite the nation’s ban on digital-token trading since 2021 [3]. His remarks were delivered during a question-and-answer session with crypto investor David Bailey, where he acknowledged the persistent influence of mainland China in the crypto space, even amid stringent government restrictions [3]. Meanwhile, the conference faced logistical challenges as key Hong Kong officials and a legislator withdrew from their scheduled appearances, reportedly to avoid any perception of collaboration with the Trump family [1].

The withdrawals included Eric Yip Chee-hang, executive director of the Hong Kong Securities and Futures Commission, and legislator Johnny Ng Kit-chong, both of whom had initially been listed as keynote speakers [1]. Their absences underscored the sensitivity of China-US relations, particularly as Donald Trump seeks to position the US as the “crypto capital of the planet” under his economic agenda [1]. The timing of the conference also coincided with broader geopolitical tensions, including the US’s imposition of new tariffs on Hong Kong imports, further complicating the city’s efforts to establish itself as a digital asset hub [1].

Eric Trump, who is co-founder of American Bitcoin, a mining venture, and involved in World Liberty Financial—a Trump family-backed project focused on digital assets—emphasized his confidence in the future of Bitcoin, predicting it could reach $1 million within the next few years [3]. His comments contrast with Hong Kong’s cautious regulatory stance, where officials have been advised to keep a low profile on crypto-related discussions, particularly concerning stablecoins and cross-border capital flows [1].

At the same event, Binance founder Zhao Changpeng, widely known as CZ, highlighted Hong Kong’s potential to become a major virtual asset hub, rivaling markets like the US and the UAE [4]. He argued that the city’s regulatory environment could evolve rapidly to accommodate the growing crypto sector, provided officials acted decisively. CZ also suggested expanding the range of cryptocurrencies permitted on licensed exchanges in Hong Kong beyond the current four—bitcoin, ether, avalanche, and chainlink—advocating for a more flexible framework similar to that of Japan [4].

In parallel, the US Commodity Futures Trading Commission (CFTC) introduced a regulatory shift by allowing offshore crypto exchanges to serve US-based clients through the Foreign Board of Trade (FBOT) framework [5]. This development aligns with the Trump administration’s “crypto sprint,” an initiative aimed at establishing the US as a global leader in digital assets by streamlining regulations and fostering innovation [5]. The CFTC’s move is expected to enhance liquidity in the crypto markets and reduce regional fragmentation by enabling US residents to access offshore platforms.

The evolving regulatory landscape in the US was further underscored by the passage of the GENIUS Act, the first significant piece of pro-crypto legislation, which mandates that stablecoin issuers back their supply with cash or short-term Treasuries in a 1:1 ratio [6]. This act, set to take effect in January 2027, introduces transparency requirements for stablecoin issuers and seeks to establish clear guardrails for the burgeoning crypto ecosystem [6]. Additionally, the CLARITY Act, still pending in the Senate, aims to define the jurisdiction of the SEC and CFTC over digital assets, potentially reshaping the regulatory framework for the industry [6].

As Hong Kong and the US navigate their respective regulatory paths, the Bitcoin Asia 2025 conference has highlighted the delicate balance between political realities and economic ambitions. The presence of Eric Trump and the participation of industry leaders like CZ underscore the global significance of the event, even as geopolitical tensions and policy uncertainties continue to shape the future of digital assets.

Source:

[1] title1 (https://finance.yahoo.com/news/bitcoin-asia-2025-hit-withdrawals-045622021.html)

[2] title2 (https://www.scmp.com/news/hong-kong/politics/article/3323388/hong-kong-official-and-lawmaker-pull-out-bitcoin-asia-2025-featuring-eric-trump)

[3] title3 (https://theedgemalaysia.com/node/768778)

[4] title4 (https://www.scmp.com/tech/blockchain/article/3323465/binance-founder-cz-hong-kong-can-rival-us-crypto-hub-its-future-hinges-speed)

[5] title5 (https://cointelegraph.com/news/cftc-pathway-americans-trade-offshore-crypto-exchanges)

[6] title6 (https://www.etftrends.com/coinshares-channel/u-s-crypto-regulatory-primer/)