Vechain CEO says China banning crypto trading is actually a good thing

In a recent interview where he gave an update about the current state of Vechain, Sunny Lu said that China made the right decision when it banned cryptocurrency trading That way, he said, the country eliminated all of the "Bad guys" in the space and is now able to facilitate the development of blockchain technologies with actual use cases and implementations.

It was also a great year for Vechain, at least according to its CEO Sunny Lu. The growth Vechain has seen throughout the year managed to outpace the parabolic rise it saw at the height of the crypto market back in 2017.

Lu said that the controversial address was exciting both for him personally and for Vechain, as China is now openly pushing for the development of a technology Vechain had been working on for the past four years.

With more than 40 enterprise applications developed on its platform, Vechain is the kind of company China's blockchain initiative was built for.

Xi Jinping's blockchain endorsement was a huge boost for Vechain.

Revolutionary it might sound, this is not a new thing for Vechain.

Vechain set out to bridge the gap between groundbreaking tech and an actual, usable platform.

Because Vechain wasn't modeled after Ethereum, it's more future proof than other similar platforms.

Lu addressed some of the issues Saunders raised when it comes to VET. Vechain's native token has been struggling with trading volume and is listed on just a handful of exchanges, which could deter both companies and traders from engaging with Vechain.

"Being traded on few exchanges is okay for now," he told Saunders, adding that more listings will happen once more businesses onboard Vechain.