Wang Yongli's View: A Dialectical Perspective on U.S. Cryptocurrency Asset Policies (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 major categories of crypto assets and their regulatory authorities, which indeed ends the long-standing regulatory conflicts, provides clearer legal boundaries, and has certain reference significance.
But the core reminder is that countries should not simply view 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 points out 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.