Solana CEO Hints China's Crypto Policy Shift Could Trigger Next Supercycle

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Solana CEO Joseph Chee told CoinEdition on Oct. 6 that a potential shift in China’s crypto market stance could fuel the next bull run. He said Chinese regulators are watching blockchain closely but remain wary of capital outflows. Chee pointed to Hong Kong as a possible testbed for digital assets, while mainland China maintains trading bans. He also mentioned blockchain’s role in cross-border trade if risks are controlled. Crypto analysis suggests regulatory changes could reshape the market landscape.

China could help drive the next major crypto rally if its government eases concerns over financial risks and capital controls, according to Joseph Chee, CEO of a Solana-focused company.

Chee said on Oct. 6 that Chinese authorities are closely watching blockchain technology but remain cautious about its impact on capital flows. He said a shift in that approach could help trigger a crypto “supercycle.”

China Weighs Crypto Risks

Chee said China could eventually allow wider crypto trading if officials can manage the risk of capital leaving the country. He did not provide a timeline for any policy change.

Related: DeFi Development Authorizes CHAD Buyback as Solana Treasury Expands

“The Chinese government is watching the technology development very, very closely,” Chee said, pointing to Hong Kong as a possible testing ground for China’s approach to digital assets.

Hong Kong Takes Different Approach

Hong Kong allows licensed platforms to offer virtual-asset services, while mainland China continues to restrict crypto trading. Chee’s comments therefore point to a possible policy shift rather than a reopening of China’s crypto market.

He said blockchain could also support companies and cross-border trade if authorities can keep the risks under control.

The Solana Foundation has separately launched a delivery-versus-payment program focused on settlement between financial assets and digital tokens. The initiative does not indicate that China has adopted Solana.

Chee also cautioned that greater crypto use would not eliminate market risks. “Volatility is going to be a big part of it,” he said.

Related: FPIs Are Selling India Despite Strong Growth: What It Means for Indian Crypto Traders

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