- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Chinese Bank Former Vice President: China's firm policy to curb cryptocurrency and promote the development of the digital renminbi is now completely clear
BlockBeats News, December 14th. Wang Yongli, former Vice President of a Chinese bank, stated in an article on WeChat Official Account that since May 2025, the United States and Hong Kong, China have been actively promoting stablecoin and cryptocurrency (digital asset) legislation. The United States has also been pushing legislation to ban the issuance of a digital dollar, triggering a global surge in stablecoin and cryptocurrency legislation and development. This has sparked a debate in China on whether it should vigorously promote RMB stablecoin legislation and development, as well as whether to further advance the development of the digital RMB. Subsequently, the People's Bank of China announced that it would 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 28th, 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, emphasizing the continued adherence to the prohibitive policy on virtual currency, and the ongoing crackdown on virtual currency-related illegal financial activities. Therefore, China is resolutely promoting the development of the digital RMB, and the policy orientation of decisively curbing virtual currency has been fully determined.
Wang Yongli also pointed out that it is necessary to accelerate the innovative development of the digital RMB and promote its widespread domestic and international use, to quickly establish its unique advantage in international payments, and to follow the path of Chinese success in digital currency development.
You may also like
Bitcoin Experiences Record 23% Decline in Early 2026
Key Takeaways Bitcoin has experienced a record-setting decline of 23% in the first 50 trading days of 2026.…
Whale Holding 105,000 ETH Faces $8.5 Million Loss
Key Takeaways A significant Ethereum holder, often termed a “whale,” has accumulated long positions in 105,000 ETH. The…
Bitcoin Faces Liquidity Challenges as $70,000 Rebound Struggles
Key Takeaways Bitcoin’s attempts to break the $70,000 mark face significant challenges due to weak liquidity and market…
Newly Created Address Withdraws 7,000 ETH from Binance
Key Takeaways A newly created cryptocurrency address withdrew 7,000 ETH from Binance within an hour, totaling $13.55 million.…
Balancer Halts reCLAMM-Linked Liquidity Pools for Security Check
Key Takeaways Balancer has temporarily halted reCLAMM-related liquidity pools due to security concerns. A report from the bug…
Whales Take on Ethereum: Major Profits from Leveraged Short Positions
Key Takeaways Three Ethereum whales are collectively reaping over $24 million in unrealized profits from short positions. The…
SlowMist Unveils Security Vulnerabilities in ClawHub’s AI Ecosystem
Key Takeaways SlowMist identifies 1,184 malicious skills on ClawHub aimed at stealing sensitive data. The identified threats include…
Matrixport Anticipates Crypto Market Turning Point as Liquidity Drains
Key Takeaways Matrixport notes a surge in Bitcoin’s implied volatility due to a sharp price drop. Bitcoin price…
Bitmine Withdraws 10,000 ETH from Kraken
Key Takeaways A newly created address linked to Bitmine withdrew 10,000 ETH from Kraken. The withdrawal value amounts…
In the face of the Quantum Threat, Bitcoin Core developers have chosen to ignore it
Don't Just Focus on Trading Volume: A Guide to Understanding the "Fake Real Volume" of Perpetual Contracts
Crypto Price Prediction Today 18 February – XRP, Bitcoin, Ethereum
Key Takeaways XRP’s potential as a replacement for SWIFT is bolstered by regulatory approvals, potentially driving its price…
XRP Price Prediction: XRP is Outpacing Solana and Targeting Binance Coin Next – Should You Invest Now?
Key Takeaways XRP Ledger has moved into the sixth place by tokenized real-world asset value, surpassing Solana and…
New AI Predicts the Price of XRP, Dogecoin, and Solana By 2026
Key Takeaways ChatGPT anticipates significant price increases for XRP, Dogecoin, and Solana by the end of 2026. XRP…
Arthur Hayes Shares Two Scenarios for Bitcoin Price, Calling for a Major Crypto Rally
Key Takeaways Arthur Hayes predicts a significant crypto rally fueled by a $572 billion liquidity injection from the…
Bitcoin Price Prediction: Abu Dhabi Gov Funds Buy $1 Billion in BTC – What Do They Know?
Key Takeaways Abu Dhabi has revealed a $1 billion stake in Bitcoin through major ETF investments, signaling strong…
Bitcoin’s Divergence From Nasdaq Signals Dollar Liquidity Risk, Says Arthur Hayes
Key Takeaways Arthur Hayes highlights a concerning divergence between Bitcoin and the Nasdaq, pointing to a potential dollar…
Lagarde’s Possible Early Exit Could Alter Digital Euro Plans and Stablecoin Oversight
Key Takeaways Christine Lagarde’s potential departure as ECB president may disrupt the digital euro timeline and stablecoin policies.…
Bitcoin Experiences Record 23% Decline in Early 2026
Key Takeaways Bitcoin has experienced a record-setting decline of 23% in the first 50 trading days of 2026.…
Whale Holding 105,000 ETH Faces $8.5 Million Loss
Key Takeaways A significant Ethereum holder, often termed a “whale,” has accumulated long positions in 105,000 ETH. The…
Bitcoin Faces Liquidity Challenges as $70,000 Rebound Struggles
Key Takeaways Bitcoin’s attempts to break the $70,000 mark face significant challenges due to weak liquidity and market…
Newly Created Address Withdraws 7,000 ETH from Binance
Key Takeaways A newly created cryptocurrency address withdrew 7,000 ETH from Binance within an hour, totaling $13.55 million.…
Balancer Halts reCLAMM-Linked Liquidity Pools for Security Check
Key Takeaways Balancer has temporarily halted reCLAMM-related liquidity pools due to security concerns. A report from the bug…
Whales Take on Ethereum: Major Profits from Leveraged Short Positions
Key Takeaways Three Ethereum whales are collectively reaping over $24 million in unrealized profits from short positions. The…
App