According to Foresight News, a recent paper published in the Journal of East China University of Political Science and Law has called for an optimization and adjustment in the prohibition-style regulation of virtual currencies. The paper argues that while this type of regulation has effectively prevented risks at certain stages, changes in the market and international regulatory environment necessitate its optimization and adjustment. The authors suggest that approved domestic financial institutions should be allowed to engage in specific virtual currency businesses, such as the Renminbi stablecoin, to promote financial innovation.