Central Bank Governor: Stablecoins have amplified the gaps in global financial regulation, impacting the monetary sovereignty of underdeveloped economies

ChainCatcher news, Pan Gongsheng, the Governor of the People's Bank of China, stated at the 2025 Financial Street Forum Annual Meeting that stablecoins and the financial risks they may pose have become one of the most discussed topics among finance ministers and central bank governors. The prevailing view mainly focuses on the fact that stablecoins, as a financial activity, currently cannot effectively meet the basic requirements for customer identity verification, anti-money laundering, and other aspects, amplifying the loopholes in global financial regulation, such as money laundering, illegal cross-border fund transfers, and terrorist financing. The atmosphere of market speculation is intense, increasing the vulnerability of the global financial system and impacting the monetary sovereignty of some underdeveloped economies.