Former Deputy Governor of Bank of China: Firmly promote the development of digital renminbi, the policy orientation to curb virtual currencies has been completely clarified

Former Vice President of the Bank of China, Wang Yongli, wrote an article titled "Grasping the Essence, Innovating, and Effectively Accelerating the Development of Digital Renminbi," in which he pointed out: China is firmly promoting the development of digital renminbi, and the policy orientation to resolutely curb virtual currencies has become completely clear. This policy direction has exceeded the strong expectations of many people and has also sparked significant social controversy.

Therefore, it is necessary to clarify the reasons for firmly curbing virtual currencies, while also effectively accelerating the innovative development and widespread domestic and international application of digital renminbi, in order to quickly establish its unique advantages in international payments and forge a successful path for the development of digital currency in China.