People’s Bank of China (PBOC) Research Bureau Director Wang Xin called for stronger oversight of stablecoins in cross-border payment networks during the 2026 Lujiazui Forum on June 17. He argued that global payment systems must become more secure, neutral, and efficient to support trade and development, warning that geopolitical use of payment infrastructure could disrupt normal transactions.
Wang highlighted stablecoins as a growing factor that may play a larger role in future cross-border payments, but stressed that policymakers need to assess their impact on the international monetary system before they gain broader adoption. He also pointed to central bank digital currencies (CBDCs) as another area requiring close policy observation. His remarks reflect China’s broader push for tighter coordination among central banks, regulators, and international institutions.
The statement builds on existing mainland Chinese restrictions that already bar unauthorized issuance of renminbi-linked stablecoins outside China. In February 2026, regulators widened those rules to cover tokenized real-world assets. Wang’s comments link stablecoin risks to the resilience of the global payment system and underline the need for multilateral support for developing economies, better financial quotas, and improved infrastructure.
