Wang Yongli, former Vice President of Bank of China, has highlighted the implications of the U.S. GENIUS Act, which aims to clarify the regulatory framework for crypto assets by defining five categories and assigning oversight to the SEC and CFTC. While this move resolves longstanding regulatory conflicts and provides clearer legal boundaries, Wang cautions against other countries adopting this framework as a universal model. He argues that the U.S. approach primarily seeks to reinforce the dollar's dominance and America's control over the global financial system. Wang advises that countries should consider the impact of blockchain on financial sovereignty and regulatory systems, and develop their own regulatory frameworks based on national conditions. He emphasizes the importance of pursuing digital sovereign currencies and real-world asset (RWA) pathways, rather than simply following the U.S. lead.