币界网报道：The People's Bank of China (PBOC) has issued a warning about stablecoins, stating they lack true decentralization despite claims to the contrary. In its latest financial stability report, China's central bank emphasized that stablecoins still rely heavily on centralized governance structures and traditional fiat currency reserves. The PBOC noted that while stablecoins attempt to mimic decentralization through blockchain technology, their value remains pegged to centralized financial systems, creating potential systemic risks. The report highlighted concerns about stablecoins' ability to maintain price stability during market volatility and their dependence on the creditworthiness of issuing entities. This warning comes as China continues to develop its own central bank digital currency (CBDC), the digital yuan, which operates under full regulatory oversight. The PBOC's stance reflects growing global regulatory scrutiny of stablecoins, particularly regarding their classification, reserve transparency, and potential impact on monetary sovereignty.