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PBOC steps up scrutiny of stablecoins\' cross-border payment impact, calls for tighter rules and coordination

China\'s central bank is stepping up monitoring and tightening regulation as stablecoins could play a bigger role in cross-border payments. PBOC Research Bureau Director General Wang Xin said authorities should closely examine stablecoins\' impact on the international monetary system and cross-border settlement, and consider how regulation and international coordination should proceed. He also warned that weaponisation of payment tools could disrupt normal cross-border trade.