The harsh events of the crypto market in 2022 have certainly called for a deeper focus on regulation. As a result, this will allow governments to implement taxes for the crypto market. Similarly, the TRON [TRX] network confirmed that it was open-minded to the idea of taxing cryptocurrencies if it would help the industry grow in the right direction.

Lark Davis noted that China had backtracked from its previous stance, which leaned towards a zero-tolerance policy on crypto. Instead, the Asian country now appeared to be embracing a softer approach and a tax policy that underscored regulation. A potential motivation for this was that TRON recognized the potential for WEB3 growth in China.

TRON has not made any official announcements regarding its plans for China. However, the fact that it responded to China’s policy change on cryptocurrencies. In other words, TRON’s potential interest in China remained within the realm of speculation.

(By Michael Nderitu)