#ChinaShapesCryptoRules

✨On February 6, 2026, a joint communiqué issued by eight state institutions, led by the People's Bank of China (PBOC), significantly updated the country's cryptocurrency policy. The comprehensive ban regime, in place since 2021, was expanded to include the unauthorized issuance of yuan-pegged stablecoins and the tokenization of real-world assets (RWAs) tied to mainland China.
✨The new regulation explicitly prohibits the unauthorized issuance of yuan-pegged stablecoins abroad, while emphasizing that the issuance of tokens based on Chinese assets will be subject to a strict oversight and approval regime. Officials state that these steps aim to safeguard financial stability, prevent capital flight, and position the state's digital yuan (e-CNY) as the sole legitimate digital currency. ✨Market commentators are divided in opinion: some believe the text largely reiterates the existing ban while opening a narrow, state-controlled door for RWA tokenization, potentially creating a controlled framework in the long term. Another viewpoint argues that further tightening of the bans would negatively impact local investors and fintech innovation.
🤔 In conclusion, Beijing appears to have adopted a clearer and more comprehensive "zero tolerance + centralized control" approach towards the crypto ecosystem by 2026.