ChainCatcher message, former Vice President of the Bank of China Wang Yongli wrote "Grasping the Essence, Expanding Innovation, and Truly Accelerating the Development of Digital RMB," in which he pointed out: China is firmly advancing the development of digital RMB, and the policy orientation to resolutely curb virtual currencies has been completely clarified. This policy orientation has exceeded the strong expectations of many people and there is still considerable social controversy.

To this end, it is necessary to clarify the reasons for resolutely curbing virtual currencies, while also accelerating the innovative development and broad domestic and international application of digital RMB, in order to quickly form its unique advantages in international payments and carve out a successful path for the development of digital currency in China.