Mu Changchun: It is not advisable to launch a global stable currency before legal, regulatory, risk control and other issues are resolved.

Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, said on the 10th at the Tenth Caixin Summit: Open China and the World that the global stable currency ecosystem as a whole can be the subject of systemic importance supervision. Before the problem of regulation, risk control and other issues are resolved, it is not appropriate to introduce a global stable currency. For China, the only effective response is to maintain and enhance the status of the renminbi in the international currency basket, and strive to continue to become a strong currency in order to withstand the challenges of global stability.