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 digital renminbi development. On March 17, 2026, the U.S. SEC and CFTC jointly issued implementation details for the Clarity Act, which classifies cryptocurrencies into five categories: digital commodities, digital securities, payment stablecoins, digital tools, and digital collectibles, and clarifies the regulatory authorities. Among them, BTC, Ethereum, SOL, XRP, ADA, DOGE, SHIB, etc., are classified as digital commodities regulated by the CFTC; assets issued via ICO are considered digital securities regulated by the SEC; payment stablecoins are overseen by the FED or OCC. Additionally, Hong Kong has been cautious in licensing approval, announcing on April 10, 2026, that the first batch of stablecoin issuers’ licenses were granted only 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)