ME News reports that on April 12 (UTC+8), Wang Yongli, former vice president of the Bank of China, wrote an article stating that countries must adopt a dialectical perspective on changes in U.S. cryptocurrency regulatory policies—learning from its categorized regulatory experience while remaining grounded in their own national conditions. Wang believes that the U.S. push for cryptocurrency regulatory legislation carries a "America First" strategic intent, aiming to strengthen the dollar’s international standing through dollar-backed stablecoins; China should therefore continue its strict prohibition on virtual currencies and intensify efforts to advance the development of the digital yuan. On March 17, 2026, the U.S. SEC and CFTC jointly released implementing guidelines for the Clearing and Regulatory Accountability for Tokens and Holdings Act (CLARITY Act), classifying crypto assets into five categories: digital commodities, digital securities, payment stablecoins, digital tools, and digital collectibles, with clearly defined regulatory authorities. BTC, Ethereum, SOL, XRP, ADA, DOGE, and SHIB are classified as digital commodities under CFTC oversight; assets issued via ICOs are classified as digital securities regulated by the SEC; and payment stablecoins are supervised by the Fed or OCC. Additionally, Hong Kong has adopted a cautious approach to licensing, announcing on April 10, 2026, that its first stablecoin issuer licenses were granted only to HSBC Hong Kong and DianDian Financial—a consortium formed by Standard Chartered (Hong Kong), Hong Kong Telecom, and Animoca Brands. (Source: Foresight News)
Former Deputy of the Bank of China Urges Pragmatic Approach to U.S. Crypto Regulation
KuCoinFlashShare
Summary
Former Deputy Governor of the Bank of China, Wang Yongli, urged a pragmatic approach to U.S. crypto regulation, emphasizing the need to balance CFT measures with liquidity and the stability of crypto markets. He cited the U.S. CLARITY Act, which classifies crypto assets into five categories, as a model worth studying while adapting to local conditions. He stated that China should maintain its strict policies on virtual currencies while advancing the digital RMB. In April 2026, Hong Kong granted stablecoin licenses to HSBC and Dingdian Finance, demonstrating regulatory caution.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.