Eight high Chinese language authorities lately issued a joint assertion, reinforcing the nation’s prohibition on digital belongings and clarifying enhanced rules round stablecoins and real-world asset (RWA) tokenization.
The signature, which included the nation’s central financial institution, Ministry of Know-how, and securities regulator, additionally revealed their creation of, and participation in, a brand new “joint drive” to help areas in finishing up threat prevention and disposal work associated to the—now formally—unlawful tokenization of RWAs house.
“Just lately, speculative actions associated to digital currencies and the tokenization of real-world belongings (RWA) have occurred regularly, disrupting financial and monetary order and endangering the property security of the folks,” read the notice. “Digital currency-related enterprise actions represent unlawful monetary actions.”
This reiterates China’s long-standing ban on digital belongings, which has been in place since 2021, when the Individuals’s Financial institution of China (PBoC), together with numerous authorities departments, jointly issued the primary “discover on additional stopping and disposing of the chance of digital foreign money buying and selling hypothesis.”
In December 2025, the PBoC reaffirmed its hardline stance on the digital asset sector, committing to sustaining China’s prohibition on digital currencies whereas highlighting stablecoins as a particular concern.
On this latter matter, the newest discover, revealed February 6, clarified and expanded on the nation’s stablecoin stance, making a ban on unapproved yuan-linked stablecoin issuance express.
“No entity or particular person, whether or not home or overseas, might problem stablecoins pegged to the Renminbi abroad,” in keeping with the discover.
The opposite main clarification within the assertion associated to RWA tokenization actions, on which the authorities additionally clamped down.
“Conducting real-world asset tokenization actions inside China, in addition to offering associated middleman and knowledge know-how companies, that are suspected of involving unlawful token issuance, unauthorized public choices of securities, unlawful operation of securities and futures companies, unlawful fundraising, or different unlawful monetary actions, ought to be prohibited,” learn the assertion.
It additional clarified that “overseas entities and people are prohibited from illegally offering real-world asset tokenization-related companies to home entities in any type.”
These updates clear up any ambiguity relating to China’s stance on stablecoins and tokenized RWAs, rising sectors that will have thought there was some leeway underneath the nation’s digital asset ban.
As well as, the discover emphasised that for all digital asset-related actions, “strict supervision can be carried out over home entities conducting associated enterprise abroad.”
The newest assertion was co-authored by the PBoC, the Nationwide Growth and Reform Fee, the Ministry of Business and Info Know-how, the Ministry of Public Safety, the State Administration for Market Regulation, the State Monetary Regulatory Fee, the China Securities Regulatory Fee (CSRC), and the State Administration of International Change.
As a part of their discover, these numerous businesses additionally introduced strengthened coordination with the Our on-line world Administration of China, the nation’s nationwide internet content material regulator and censor, the Supreme Individuals’s Court docket, and the Supreme Individuals’s Procuratorate, the nation’s highest public prosecutor.
Collectively, they are going to type a brand new “joint drive” to supply steerage to areas on finishing up “threat prevention and disposal work associated to unlawful monetary actions involving the tokenization of real-world belongings.”
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