PBOC Official Calls for Closer Monitoring of Stablecoins as Cross-Border Use Grows

A senior official at the People’s Bank of China (PBOC) has called for tighter oversight of stablecoins as their role in cross-border payments expands. According to NS3.AI, PBOC Research Bureau director general Wang Xin urged closer monitoring of stablecoins and said regulators should strengthen oversight as their cross-border payment use grows. Wang also called for stronger regulation, greater international coordination, and deeper policy cooperation related to stablecoins. He did not endorse stablecoins and did not announce any policy changes.