Wang Yongli: U.S. cryptocurrency-asset policy is worth learning from, but it should be viewed dialectically!

Wang Yongli, a former deputy governor of a bank, recently wrote an article titled “A Dialectical View of the U.S. Cryptocurrency Asset Policies,” in which he shared his views on the Crypto Asset Classification and Regulation Act (CLARITY Act). He pointed out that the U.S.’s new progress in defining and regulating crypto assets—especially the “Federal Securities Law’s Application to Specific Crypto Assets and Related Transactions”—provides valuable experience for the world and is worthy of reference by other countries. However, Wang Yongli also emphasized that although the U.S.’s classification regulation has its value, its policy changes still need to be viewed dialectically.

Specifically: it is necessary to attach importance to the development and potential of the on-chain crypto world; effective classification regulation must be implemented on the basis of an accurate understanding of the nature of crypto assets. While learning from the United States’ experience, each country must also adopt policies that are suitable for its own national conditions.