How Asia's Crypto Communities View the Tariffs and Trump's Embrace of Crypto
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Key Quotes
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Insights
🎯 Summary
Podcast Episode Summary: How Asia’s Crypto Communities View the Tariffs and Trump’s Embrace of Crypto
This 81-minute episode of Unchained features host Laura Shin interviewing Emily Parker (China and Japan advisor at the Global Blockchain Business Council) and Yet (CIO/Chairman of Annamoka Brands) to discuss the geopolitical and regulatory impact of US tariffs and the shifting stance of the Trump administration on crypto, specifically as viewed from key Asian hubs like Hong Kong, Japan, and China.
1. Focus Area
The primary focus is the intersection of US-Asia geopolitics (specifically tariffs) and the cryptocurrency/Web3 landscape. Key themes include:
- Asian market reactions to potential US tariffs, particularly concerning China.
- The perceived impact of the Trump administration’s increasingly crypto-friendly stance on Asian regulatory environments and market sentiment.
- The role of Hong Kong as a crucial proxy for China’s engagement with global blockchain policy.
2. Key Technical Insights
- China’s Crypto Status Nuance: The common media trope that crypto is “banned” in China is inaccurate. While trading is prohibited, owning Bitcoin is not a crime, and trading activity persists. China’s true stance is revealed through its strategic use of Hong Kong for policy experimentation (e.g., stablecoin regulation, exchange licensing).
- Blockchain as Strategic Infrastructure: Chinese leadership (Xi Jinping) has signaled that blockchain and Web3 are strategically important, suggesting a focus on the underlying technology rather than immediate acceptance of decentralized crypto trading.
- Regulatory Arbitrage Shift: Jurisdictions like Hong Kong and Singapore previously benefited from regulatory arbitrage due to US hostility, but this dynamic is shifting as the US now actively competes to become the “crypto capital of the world.”
3. Market/Investment Angle
- Crypto as Risk-On Asset: Generally, in the current macro environment of uncertainty (including tariff discussions), crypto (especially altcoins) is viewed as a risk-on asset, leading to de-risking alongside broader macro concerns.
- Bitcoin as Macro Hedge: Despite the risk-on classification, there is a growing conversation in Hong Kong and Japan about adding Bitcoin to corporate balance sheets specifically as a macro hedge against potential dollar weakening caused by geopolitical tensions or tariffs.
- Corporate Diversification: Many large Asian businesses, particularly in manufacturing, had already diversified away from reliance on the US market years ago in anticipation of trade friction, putting them in a better position now.
4. Notable Companies/People
- Emily Parker & Yet: Provided expert analysis based on their deep involvement in the Asian tech, policy, and investment ecosystems (Longhash, Annamoka Brands, advising Neom/Saudi Arabia).
- Bitwise/Matt Hogan: Mentioned via sponsorship for their CIO memo summarizing crypto market movements.
- D-Sprad (Korea): Noted for observing a direct, noticeable surge in Korean crypto market sentiment correlating with Trump’s election victory in late 2024.
5. Regulatory/Policy Discussion
- Japan’s Tax Hurdle: The single biggest obstacle to crypto adoption in Japan remains its high crypto tax rate (up to 55%), though there is serious discussion about lowering it toward the 20% rate applied to stocks, potentially paving the way for a Bitcoin ETF within the next two years.
- US Influence on Asian Policy: There is anecdotal evidence that the perceived shift toward crypto-friendliness in the US (under the Trump administration) is influencing regulatory conversations in Japan and potentially elsewhere.
- Hong Kong’s Pro-Crypto Pivot: Hong Kong’s aggressive pro-crypto stance is seen as being executed with the explicit blessing of Beijing, serving as a controlled mechanism for China to engage with global Web3 finance via the Hong Kong proxy.
6. Future Implications
The industry is heading toward increased geopolitical competition for crypto talent and capital, with the US actively trying to reclaim its leadership position. This competition is forcing Asian hubs to refine their regulatory frameworks (e.g., Japan lowering taxes, Hong Kong issuing licenses) to remain attractive. The conversation around Bitcoin as a legitimate macro hedge is gaining traction among institutional players in Asia.
7. Target Audience
This episode is highly valuable for Crypto/Web3 Professionals, Institutional Investors, Geopolitical Analysts, and Policy Makers interested in understanding how global trade tensions directly influence regional crypto adoption and regulatory strategy.
🏢 Companies Mentioned
Web3 company
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General Web3
SK Planet
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Web3 Project/Organization
Mochaverse
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Web3 Project
MiCA
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Regulation/Framework
IBM
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Traditional Tech (Acquirer)
When Hong Kong
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unknown
Standard Chartered
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unknown
Sumitomo Mitsui Banking Corporation
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unknown
SK Planet
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unknown
Terra Luna
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LT Roadmap
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unknown
Converge Precision Ledger Road
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unknown
Carlis Thomingo
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Guy Young
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Apple Podcasts
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💬 Key Insights
"Basically, this is a story about Coincheck Group going global. So, you know, why do they list on this? ... Basically, what this is, is it's kind of an acquisition play. So, basically, the idea is that like Coincheck Global wants to basically—Coincheck Group wants to basically go global, and, you know, kind of acquire, and they see sort of like Nasdaq stock as like an acquisition currency."
"So, that entire country has a framework around where if you have a DeFi wallet, they know which one is your DeFi wallet, right? That's again something that it is totally different in other parts of the world."
"if you are, you know, moving money into your MetaMask wallet, you have to register that wallet, essentially KYC that in with the Korean authorities."
"Korea is so powerful, right? I mean, especially when it comes to things like altcoins. And this is something that's always fascinating about Korea: there's just been so many times where I've seen an altcoin just shoot up seemingly for no reason. It's like, "Oh, it's something happening in Korea," right? Something happened on Upbit or, you know... So, but and this is purely the force of the retail market."
"Korea has, you know, maybe a little looser, but has also a fairly closed capital market, which is the reason why the crypto exchange world in Korea is so contained. And this is the reason why you have a premium in Korea because of the fact that you don't have a typical sort of capital flows as you have in other markets."
"And so, if you're going to use the energy to mine Bitcoin, which higher is basically literally nobody but makes also some money from an export dollar, or do you use the same energy to basically hire thousands of employees in that same province or region? You know, what's going to have a more harmonious and better long-lasting sort of solution for that society in that area? Clearly, the one that hires thousands of people, right?"
📊 Topics
#artificialintelligence
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#investment
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#startup
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🧠 Key Takeaways
not expect, therefore, because it's inherently unstable, is when you have speculation that is fairly rampant, right? So, in a classic sort of trading world in crypto, it's going to remain speculative and volatile, and that's what China does not want, which is the reason they talk about blockchain and they talk about Web3, but they're not going to talk about trading and speculation
double-check that—but I think it's up to 10