South China Morning Post CENTER (0.0) Reliability: 7.5/10

China doubles down on crypto crackdown as central bank vows to expand digital yuan

✍️ Xinyi Wu 📅 October 27, 2025 11:36 PM 🕐 Scraped: October 28, 2025

Summary: PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

China on Monday reaffirmed its hardline approach towards virtual currencies at home, warning of the risks of stablecoins, despite growing concerns that the United States might have consolidated its US dollar domin

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Author

Xinyi Wu

Original Publisher

🌍 South China Morning Post

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Published Date

October 27, 2025 at 11:36 PM

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