China’s Central Bank Issues Warning About Stablecoin Risks to Financial Stability

China’s central bank has issued a warning about the potential risks stablecoins pose to global financial stability. The People’s Bank of China (PBC) governor, Pan Gongsheng, emphasized the unregulated nature of these digital currencies and their impact on regulatory gaps. He highlighted the need for stricter regulations to mitigate these risks. The PBC is committed to enforcing anti-crypto policies to address these concerns and ensure market stability within China.