Wang Yongli, former Vice President of the Bank of China, has called for China to adopt a more forward-thinking approach towards cryptocurrency. He suggests that the focus should not be on developing a digital yuan stablecoin, which he believes has limited potential, but rather on accelerating comprehensive crypto asset legislation. Wang advocates for financial institutions to integrate blockchain technology, promote the development of real-world assets (RWA), and attract crypto exchanges to register in China or Hong Kong. He also warns against the U.S. trend of supporting the crypto industry through legislation at the expense of necessary regulation.