According to TechFlow TechFlow, on April 12th, Wang Yongli, former Vice President of the Bank of China, wrote an article titled "A Dialectical View of the US Crypto Asset Policy." In the article, he stated that the interpretative and guiding implementation details of the CLARITY Act on Crypto Asset Classification and Regulation, titled "Application of Federal Securities Acts to Certain Crypto Assets and Related Transactions," represent a significant improvement in the US's definition and regulation of crypto assets. He believes this is worthy of study and emulation worldwide in understanding, defining, and appropriately regulating crypto assets. However, he argues that the US crypto asset policy still needs to be viewed dialectically. While the US's classification and regulation of crypto assets is worth learning from, appropriate and effective regulation is essential for the innovative development of crypto assets.
Wang Yongli pointed out that we should take a dialectical view of the changes in US cryptocurrency regulatory policies: First, we must attach great importance to the development of the on-chain crypto world; second, we must implement effective classified regulation based on an accurate understanding of the essential attributes of crypto assets; and third, in terms of crypto assets, we should both learn from the experience and lessons of the United States and, in a pragmatic manner, adhere to our own national conditions.
