“TRX Will Be Accepted in China” – Justin Sun Makes Bold Claim

People in China love Justin’s TRON, but is it enough to convince the government to deem it legal tender?

Tron founder Justin Sun sitting on top of the world, ready to dish out 5 coins to 5 lucky countries.
  • Tron founder Justin Sun names five countries to make TRX legal tender.
  • Sun’s Huobi Global exchange underwent massive lay-offs in late 2022.
  • Sun’s USDD stablecoin hasn’t reclaimed $1.00 since 22 November 2022.

Chinese crypto mogul Justin Sun took to Twitter to reveal his New Year’s Resolution. In an early Sunday morning tweet, Mr. Sun disclosed that his KPI for 2023 is “to get 5 countries to adopt Tron (TRX) as legal tender.” Besides, the controversial character added two flag emojis to his Tweet, hinting at Dominica and Sint Maarten.

Indeed, these two English-speaking micro countries in the Caribbean are not yet known as prospective crypto hubs. However, the TRX founder pointed out that one of the five countries will be ‘major.’ According to the latest tweet, China is likely to accept TRX as legal tender, as many people in the vast nation are using it for daily transactions already.

Crypto Twitter Flabbergasted by TRON

H.E. Justin Sun’s New Year resolution took some crypto enthusiasts by surprise. To illustrate, popular Indian crypto YouTuber Ajay found the statement bold and wildly aggressive, also adding: “Will return to this tweet on 31st December, 2023.”

Sponsored

On the other hand, some crypto enthusiasts believe that singling out Tron (TRX) when making cryptocurrencies legal tender is simply blowing smoke in the face. Be that as it may, the young crypto entrepreneur Justin Sun insists that the ambitious goal can be achieved with “hard work and dedication.”

At press time, the 18th-ranked alternative cryptocurrency trades at $0.0622, according to CoinGecko. Despite a 2.4% decline in the last 24 hours, TRX is known for its stability. To illustrate, it moved up by 2.7% in yearly terms, which shows great resistance in extremely volatile market conditions, which had bigger crypto giants than Mr. Sun falling like leaves during the infamous 2022 crypto winter.

  • China has a history of banning cryptocurrencies other than its own stablecoin – the digital yuan, which is already widely used in the country.
  • Thus, the Chinese government would have to change its stance on crypto to accept Tron (TRX) as a legal tender.

Why You Should Care

Established in Singapore in 2017, the Tron Foundation raised $70 million in the inaugural cryptocurrency token offering. Shortly after, China issued the crypto ban, even though crypto trading and mining activities are prevalent in Asian countries ruled by authoritarian regimes. Finally, despite being illegal, China is one of the most active Bitcoin mining areas.

Stay on top of the altcoin action:

Sponsored

Aptos (APT) Faces Scam Allegations as It Surges 420% in a Month

Cardano Founder Addresses Momentary “Blip” of Cardano Nodes

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.