Eric Trump "China is a powerhouse in virtual assets…leading a new order with the United States"

Eric Trump, vice chairman of the Trump Organization, described China as "a powerhouse in the virtual assets (cryptocurrency) sector with a hell of a power." He also emphasized that the United States and China are leading a new order in digital finance.

On the 29th, according to crypto-focused media CryptoNews, Eric Trump, the second son of President Trump, said in a speech at the 'Bitcoin Asia 2025' event held in Hong Kong that "China has left an astonishing mark on Bitcoin and cryptocurrencies," and that "despite trading bans, it still remains a core force in this market." He added that "the Middle East is also adopting cryptocurrencies on a large scale."

He said, "There is no doubt that China has tremendous power in this field (hell of a power)," actively defending China's role. He also noted that "both the United States and China are leading the cryptocurrency sector, and the competition between the two countries will determine the future of digital finance."

The outlet added that "China, after years of regulatory crackdowns, in 2021 completely banned virtual-asset trading, but there have been persistent signs that mainland investors are still circumventing regulations to participate in the market."