China expands crypto crackdown to stablecoins, asset tokenization
Chinese regulators have broadened their crackdown on crypto activities, imposing strict oversight on tokenization and stablecoin issuance in a Friday notice.
“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,” said the notice, issued jointly by eight national organizations including the People’s Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC).
The notice reiterates China’s blanket ban on crypto, saying that trading, issuing or facilitating transactions involving digital currencies such as bitcoin , ether
