China will continue its stringent control over cryptocurrencies and stablecoins while monitoring developments in overseas digital assets, a People’s Bank of China (PBOC) official said Monday.

PBOC Governor Pan Gongsheng, speaking at a conference in Beijing, emphasized that the central bank will persist in cracking down on domestic crypto activities and speculation. He added that “the policies and measures rolled out by PBOC to combat cryptocurrency-related risks are still effective,” signaling Beijing’s ongoing commitment to tight regulation even as neighboring Asian countries introduce regulated stablecoins.