"A Dialectical View of the United States' Cryptocurrency Asset Policy" (Author: Wang Yongli) Former Vice President of the Bank of China Wang Yongli pointed out that based on the GENIUS Act, the U.S. has promoted the SEC and CFTC to jointly clarify the five categories of crypto assets and their regulatory authorities, which indeed ends long-standing regulatory conflicts, provides clearer legal boundaries, and has certain reference value.

But its core reminder is that countries should not simply regard the U.S. framework as a universal template: the fundamental goal of the U.S. in promoting stablecoin and crypto legislation is to further strengthen the dollar's dominance and America's control over the global financial system.
The article also notes that when facing crypto assets, other countries should not only pay attention to the impact of on-chain worlds on financial sovereignty and regulatory systems but also must base their efforts on their own national conditions to promote classified regulation, digital sovereign currencies, and RWA pathways, rather than simply following the U.S. model.