For the first time in history, CCTV began to report positively on cryptocurrencies.
At 8:30 pm on May 24, CCTV Financial News reported on the new crypto policy in Hong Kong. Subsequently, Binance CEO CZ called for a bull market, which triggered a night of jubilation in the Chinese crypto community.
In a 1 minute and 38 second short video that has been circulated in the crypto community, a CCTV Finance host reported that the Hong Kong Securities and Futures Commission announced today that all preparations for virtual asset trading in Hong Kong are basically ready, and the Hong Kong Securities and Futures Commission will begin accepting applications for virtual asset trading platforms from June 1.
It is worth noting that the CCTV host’s initial statement was, “Let’s pay attention to the latest news on cryptocurrency trading,” directly referring to “virtual assets” as “cryptocurrency.”
It should be noted that under the domestic policy environment of strong regulation, the official media has always used the term "virtual currency" or "digital currency" when reporting on "cryptocurrency". Even when Hong Kong introduced its new crypto policy, it only used the term "virtual assets" cautiously. This is undoubtedly a positive signal for the crypto community.
After capturing the positive signals behind CCTV’s report on Hong Kong’s new crypto policy, CZ immediately tweeted a bull market:
“CCTV mentioned that Hong Kong will accept applications for virtual asset platforms starting June 1. This is a big deal! It has caused a strong response in the Chinese crypto community. Historically, such reports may trigger a bull market.”
As of 9 a.m. this morning, CZ's tweet has received 2.55 million views, 19,000 likes, and more than 5,000 retweets.
Dongxiangjun noticed that the first comment under the tweet was, "It is not necessarily a bull market when Chinese people participate, but it is definitely not a bull market when Chinese people do not participate."
CZ responded, "can't argue with that."
Although CCTV Finance also stated that the Hong Kong Securities Regulatory Commission has not yet approved any virtual asset trading platform to provide services to retail investors, CZ also emphasized that the statement about the bull market is not "financial advice."
However, the crypto community is very sensitive to this news. The "Hong Kong Concept" section of Feixiaohao data shows that Hong Kong concept tokens such as CFX and SAND have seen a significant rise in a short period of time, and then fell slightly again.
It is still unknown what positive signals are hidden behind the CCTV report and whether Hong Kong can become the main narrative of the next bull market.
However, with less than a week until the new licensing system in Hong Kong takes effect, the above news will undoubtedly boost Hong Kong's confidence in building the "Asian Web3 Center". Dongxiangjun will continue to follow and report on the latest developments in Hong Kong.
