Wang Yongli: The policy orientation of firmly promoting the development of the digital yuan and curbing virtual currencies is fully clear.
Wang Yongli, former Deputy Governor of the Bank of China, wrote an article titled "Grasp the Essence, Pioneer Innovation, and Effectively Accelerate the Development of Digital RMB," in which he pointed out: China is firmly advancing the development of the digital RMB and has clearly determined the policy stance to resolutely curb virtual currencies. This policy stance has exceeded the strong expectations of many and still faces significant social controversy. Therefore, it is necessary to explain the reasons for resolutely curbing virtual currencies, while also effectively accelerating the innovative development and broad domestic and international application of the digital RMB, quickly forming its unique advantage in international payments, and forging a successful path for the development of digital currency in China.
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