Former Vice President of Bank of China: The U.S. cryptocurrency regulation policy should be viewed dialectically, and efforts should be made to adhere to national conditions

ME News Report, April 12 (UTC+8), former Vice President of the Bank of China Wang Yongli wrote that countries need to view the changes in U.S. cryptocurrency regulation policies dialectically, learning from their classification regulation experience while also adhering to the reality of their own national conditions. Wang Yongli believes that the U.S. promoting legislation on cryptocurrency regulation has a “America First” strategic intent, aiming to strengthen the international status of the dollar through dollar stablecoins. China should continue to strictly prohibit virtual currencies and intensify efforts to promote the development of digital RMB. On March 17, 2026, the U.S. SEC and CFTC jointly issued implementation details for the CLARITY Act, a clear law on the classification and regulation of cryptocurrencies, dividing digital assets into five categories: digital commodities, digital securities, payment stablecoins, digital tools, and digital collectibles, and clarifying the regulatory authorities. Among them, BTC, Ethereum, SOL, XRP, ADA, DOGE, SHIB, etc., are classified as digital commodities and regulated by the CFTC; assets issued via ICO are considered digital securities and regulated by the SEC; payment stablecoins are overseen by the FED or OCC. Additionally, Hong Kong has also been cautious in licensing approval, announcing on April 10, 2026, that the first batch of stablecoin issuers’ licenses will only be granted to HSBC Hong Kong and the Anchor Point Financial (a joint venture of Standard Chartered Bank (Hong Kong), Hong Kong Telecom, and Animoca Brands). (Source: Foresight News)