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China Extends Crypto Ban to Stablecoins and Tokenized Assets

Crypto News

Regulators in China have expanded their cryptocurrency crackdown to cover stablecoins and tokenized assets.

“Recently, influenced by various factors, speculative activities related to virtual currencies and the tokenization of real-world assets have occurred frequently, posing new challenges and situations for risk prevention and control,” regulators including the People’s Bank of China (PBOC) and the China Securities Regulatory Commission said in a notice Friday (Feb. 6).

The announcement was cited in a report by Coindesk, which noted that the ban extends to foreign entities and people offering such services inside China. It also blocks domestic organizations from issuing digital currencies overseas without regulatory…

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