[Former Governor of China's Central Bank: Cryptocurrency and Blockchain Technology Can Be Discussed, Key Lies in User Experience] BlockBeats News, March 27 – Zhou Xiaochuan, former governor of the People's Bank of China, stated yesterday at the Boao Forum for Asia Annual Conference 2026 that a good payment system is not about excelling in a single technology or feature. Just like instant payment is not necessarily the best, the most important aspect is 'adaptability.' He emphasized that regulation should focus on anti-money laundering, preventing drug trafficking, cross-border gambling, telecom fraud, and other illicit activities. During the forum, several central bank governors mentioned that digital currencies are now being used in payment systems, but fraud is also being conducted using digital currencies, and 'quite extensively' at that. Zhou Xiaochuan believes that anti-fraud capabilities still need continuous improvement. When discussing the topic of regulatory adaptability, Zhou Xiaochuan once again brought up stablecoins. He noted that proceeds from telecom fraud are immediately split into hundreds or thousands of accounts to evade compliance checks, making it difficult to recover losses afterward. 'Stablecoins fundamentally bypass compliance checks. Everyone needs to think this through and not blindly follow trends.' Zhou Xiaochuan also emphasized that cryptocurrency and blockchain technology are worth exploring, but this does not mean that 'peer-to-peer' or 'decentralization' are inherently positive. Nor should one hastily conclude that the use of correspondent banks and SWIFT messages in traditional backend systems is outdated. The key lies in adapting to the user's experience. (Caixin)