China May Rethink Crypto Policy as U.S. Moves Toward Strategic Bitcoin Reserve, Grayscale Says
China could be poised to soften its rigid stance on cryptocurrency in response to the United States’ growing institutional embrace of bitcoin, asset manager Grayscale suggested in a Monday research report.
The firm pointed to the recent directive from President Trump establishing a U.S. Strategic Bitcoin Reserve — aimed at safeguarding seized digital assets — as a potential catalyst for a global policy reevaluation, especially in nations that have maintained a cautious or adversarial position toward crypto.
“Among major global economies, China is the one to watch,” Grayscale wrote. “If it signals any easing of its current restrictions, the impact on global bitcoin adoption could be profound.”
While Beijing has banned most crypto-related activities such as trading and mining, it still permits individuals to hold digital assets. Meanwhile, Hong Kong’s emergence as a regulated crypto hub suggests a more nuanced approach may already be underway within the broader framework of Chinese governance.
Grayscale also noted recent deliberations by China’s Supreme Court and judicial bodies in February, which reportedly discussed how digital assets might be treated in legal contexts — a move that could lay the groundwork for future regulatory clarity.
“With the U.S. taking a more proactive role in institutionalizing bitcoin, any policy shift from China would not only be symbolic but could dramatically alter the trajectory of crypto adoption across Asia and beyond,” the report concluded.
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