PBOC Governor Pan Gongsheng Outlines Plan to Strengthen RWA Tokenization Oversight

Cointime update: People’s Bank of China Governor Pan Gongsheng, entrusted by the State Council, reported on financial work since October 2025 to the 25th session of the 14th NPC Standing Committee on November 7. The report calls for improving the virtual-currency regulatory framework, strengthening analysis of leads on underground banks tied to virtual currencies, refining a full-chain mechanism to curb virtual-currency mining, and reinforcing oversight of real-world asset (RWA) tokenization. It also proposes shifting the digital yuan’s positioning from cash to deposit money.