Former Vice President of Bank of China: The policy orientation of firmly promoting the development of digital RMB and curbing virtual currencies is fully clear.

In his article, "Grasp the Essence, Embrace Innovation, and Effectively Accelerate the Development of the Digital RMB," Wang Yongli, former vice president of the Bank of China, points out that China's policy orientation of firmly promoting the development of the digital RMB and resolutely curbing virtual currencies is fully clear. This policy orientation has exceeded the strong expectations of many and is still subject to considerable social controversy. Therefore, it is necessary to explain the reasons for resolutely curbing virtual currencies, while simultaneously accelerating the innovative development and widespread application of the digital RMB both domestically and internationally, quickly establishing its unique advantages in international payments, and forging a successful Chinese path for the development of digital currencies.