Eric Trump, the son of US President Donald Trump, on Friday praised China's role as a key player in the cryptocurrency market, whilst hailing US progress in embracing the "digital revolution" under his father's administration.

"The second he (Donald Trump) got into office, he embraced the digital revolution because he understands that that's the future of finance," Eric Trump told a bitcoin conference in Hong Kong. "And so we went from 0 to 100 instantaneously."

Since taking office, the Trump administration has pushed for crypto-friendly regulations and laws, while the Trump family has aggressively sought to expand its crypto-related businesses.

That unprecedented dynamic has led to allegations of corruption from Democrats, though the president says he has entrusted the management of his business dealings to his sons.

AP video shot by Katie Tam