U.S. Secretary of State Marco Rubio met with Chinese Foreign Minister Wang Yi in Manila this week to lay groundwork for Chinese President Xi Jinping's planned visit to the United States in September 2026. The meeting covered a range of bilateral issues, but cryptocurrency was not discussed — a clear signal that digital assets remain a low priority in the world's two largest economies.
The meeting in Manila
Rubio and Wang met on July 22, 2026, in the Philippine capital. The talks were part of ongoing diplomatic efforts to set the agenda for Xi's first state visit to the U.S. since taking office. Both sides described the meeting as constructive, though no major breakthroughs were announced.
Sources familiar with the discussions said topics included trade imbalances, technology competition, and regional security in the South China Sea. Cryptocurrency never came up.
Silence on digital assets
For an industry that often watches U.S.-China relations for signs of regulatory alignment or conflict, the omission is telling. Neither country has made crypto a central part of bilateral talks in recent years, and this meeting suggests that won't change anytime soon.
China maintains a blanket ban on cryptocurrency trading and mining. The U.S. has taken a more fragmented approach, with federal agencies issuing guidance and enforcement actions but no comprehensive legislation. The two sides have not coordinated on crypto policy, and there's no indication they plan to.
What the September visit could bring
Xi's visit to the U.S. in September is expected to focus on trade, technology, and climate. Crypto advocates had hoped the meeting might open a door for dialogue on digital asset regulation, especially given China's active development of its digital yuan. But the Manila meeting makes clear that crypto is not a near-term priority for either side.
That could change if the U.S. moves forward with stablecoin legislation or if China signals any shift in its ban. For now, the industry will have to wait.
