What should China do? Wang Yongli urgently calls for action. "The stablecoin and cryptocurrency sector has become a battleground for large merchants and even countries." He believes that China needs to adjust its policies regarding cryptocurrencies and stablecoins, and at the very least, actively participate in the development of cryptocurrencies and stablecoins overseas, accelerate the enhancement of its international competitiveness, and strengthen its influence in international cooperation in this field.