Wang Yongli, former Vice President of the Bank of China, has called for China to adopt a more forward-thinking approach towards cryptocurrency legislation. He emphasized that the focus should not be on developing a digital yuan stablecoin, which he views as having limited potential, but rather on expediting legislative processes, encouraging bank participation, and advancing Real World Asset (RWA) development to achieve a strategic advantage. Wang argues that establishing the legality of fiat-backed stablecoins and other crypto assets will drive significant involvement from banks and financial institutions. This, in turn, would facilitate the transition of standardized financial assets onto blockchain platforms, accelerating the growth of the crypto ecosystem into an irreversible trend. He highlighted that this should be seen as the most significant contribution of U.S. stablecoin legislation.