Core Viewpoint - The speech by the Governor of the People's Bank of China, Pan Gongsheng, at the 2025 Financial Street Forum highlighted the cautious approach towards the development of stablecoins and virtual currencies, emphasizing the need for effective regulatory measures to address associated financial risks [1] Group 1: Stablecoins and Financial Risks - The emergence of virtual currencies, particularly stablecoins, has been significant, but they are still in the early stages of development [1] - International financial organizations and central banks generally adopt a cautious stance towards the development of stablecoins, with discussions at the recent IMF/World Bank annual meeting focusing on their potential financial risks [1] - Stablecoins currently fail to meet essential requirements such as customer identity verification and anti-money laundering, which exacerbates global financial regulatory gaps and increases vulnerabilities in the financial system [1] Group 2: Regulatory Measures - Since 2017, the People's Bank of China has issued multiple policy documents aimed at preventing and addressing risks associated with domestic virtual currency trading and speculation, which remain in effect [1] - The People's Bank of China plans to continue collaborating with law enforcement to combat domestic virtual currency operations and speculation, while closely monitoring and dynamically assessing the development of overseas stablecoins [1]
2025金融街论坛|潘功胜:继续打击境内虚拟货币的经营和炒作