Eight top Chinese authorities recently issued a joint statement, reinforcing the country’s prohibition on digital assets and clarifying enhanced rules around stablecoins and real-world asset (RWA) tokenization.
The signature, which included the country’s central bank, Ministry of Technology, and securities regulator, also revealed their creation of, and participation in, a new “joint force” to assist regions in carrying out risk prevention and disposal work related to the—now officially—illegal tokenization of RWAs space.
“Recently, speculative activities related to virtual currencies and the tokenization of real-world assets (RWA) have occurred frequently, disrupting economic and financial order and endangering the property safety of the people,” read the notice. “Virtual currency-related business activities constitute illegal financial activities.”
This reiterates China’s long-standing ban on digital assets, which has been in place since 2021, when the People’s Bank of China (PBoC), along with a number of government departments, jointly issued the first “notice on further preventing and disposing of the risk of virtual currency trading speculation.”
In December 2025, the PBoC reaffirmed its hardline stance on the digital asset sector, committing to maintaining China’s prohibition on digital currencies while highlighting stablecoins as a particular concern.
On this latter topic, the latest notice, published February 6, clarified and expanded on the country’s stablecoin stance, making a ban on unapproved yuan-linked stablecoin issuance explicit.
“No entity or individual, whether domestic or foreign, may issue stablecoins pegged to the Renminbi overseas,” according to the notice.
The other major clarification in the statement related to RWA tokenization activities, on which the authorities also clamped down.
“Conducting real-world asset tokenization activities within China, as well as providing related intermediary and information technology services, which are suspected of involving illegal token issuance, unauthorized public offerings of securities, illegal operation of securities and futures businesses, illegal fundraising, or other illegal financial activities, should be prohibited,” read the statement.
It further clarified that “foreign entities and individuals are prohibited from illegally providing real-world asset tokenization-related services to domestic entities in any form.”
These updates clear up any ambiguity regarding China’s stance on stablecoins and tokenized RWAs, growing sectors that may have thought there was some leeway under the country’s digital asset ban.
In addition, the notice emphasized that for all digital asset-related activities, “strict supervision will be implemented over domestic entities conducting related business overseas.”
The latest statement was co-authored by the PBoC, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the State Financial Regulatory Commission, the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange.
As part of their notice, these various agencies also announced strengthened coordination with the Cyberspace Administration of China, the country’s national internet content regulator and censor, the Supreme People’s Court, and the Supreme People’s Procuratorate, the country’s highest public prosecutor.
Together, they will form a new “joint force” to provide guidance to regions on carrying out “risk prevention and disposal work related to illegal financial activities involving the tokenization of real-world assets.”
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Source: https://coingeek.com/china-clarifies-enhanced-crypto-ban-rules-on-stablecoins-rwas/
