BlockBeats News, December 14th. Wang Yongli, former Vice President of the Bank of China, stated in an article on WeChat that since May 2025, the United States and Hong Kong, China have been actively promoting stablecoin and cryptocurrency (digital asset) legislation. The United States is simultaneously pushing for legislation to ban the issuance of a digital dollar, sparking a global frenzy in stablecoin and cryptocurrency legislation and development. This has also raised discussions on whether China should vigorously promote RMB stablecoin legislation and development, as well as whether to continue advancing the development of the digital RMB. Subsequently, the People's Bank of China announced that it will optimize the positioning of the digital RMB in the currency hierarchy, further improve the digital RMB management system, and actively promote the development of the digital RMB. On November 28, the People's Bank of China and 13 other departments jointly held a "Coordination Mechanism Meeting to Combat Virtual Currency Trading Speculation," clarifying that stablecoins are a form of virtual currency. It emphasized the need to continue adhering to the prohibitive policy towards virtual currency and to consistently crack down on illegal financial activities related to virtual currency. Therefore, China is resolutely promoting the development of the digital RMB, and the policy orientation to firmly restrain virtual currency is now completely clear.Wang Yongli also pointed out that it is necessary to accelerate the innovative development of the digital RMB and promote its extensive domestic and international use, quickly establishing its unique advantages in international payments and taking the Chinese path to successful digital currency development.