China Confronts US Over Geopolitical Tensions at UN General Assembly
Chinese Vice President Han Zheng spoke at the UN General Assembly on Saturday, pushing back against the US over several key issues. According to Zheng, Gulf countries must have their sovereignty and security respected. He specifically mentioned the Strait of Hormuz, which is a critical waterway for global trade.
Zheng also addressed the situation in Cuba, calling on the 'concerned country' (referring to the US) to stop threatening the island nation and lift its sanctions and embargoes.
The geopolitical tensions highlighted by Zheng's speech could have significant implications for the crypto market. These include increased systemic risk, heightened volatility, and potential effects on cross-border payments and sanctions compliance for centralized exchanges (CEXs) and decentralized finance (DeFi) protocols.