Solana CEO Sees China Policy Shift as Potential Crypto Supercycle Trigger

Solana CEO Joseph Chee believes China could play a pivotal role in the next major cryptocurrency rally if the country’s government eases its stance on financial risks and capital controls. Speaking on October 6, Chee noted that Chinese authorities are closely monitoring blockchain technology but remain cautious about its potential impact on capital flows. He suggested that a shift in this approach could trigger a crypto “supercycle.”

Chee emphasized that China might eventually permit broader crypto trading if officials can mitigate the risk of capital flight. However, he did not specify any timeline for such a policy change. He highlighted Hong Kong as a potential testing ground for China’s approach to digital assets, given its more permissive stance compared to mainland China’s strict restrictions.

The Solana Foundation recently introduced a delivery-versus-payment program aimed at improving settlement between financial assets and digital tokens. Chee cautioned that while greater crypto adoption could support companies and cross-border trade, it would not eliminate market risks. “Volatility is going to be a big part of it,” he said.