China bans unauthorized offshore yuan‑pegged stablecoins, tightens crypto rules and brings RWA tokenization under regulation while promoting e‑CNY

first published 2026-02-07T09:27:10Z

The People’s Bank of China and seven agencies issued a joint notice that bans unauthorized offshore issuance of yuan‑pegged stablecoins by domestic and foreign entities (including overseas branches); bars financial institutions from providing banking or clearing services to crypto firms; continues enforcement against mining; forbids firms from using terms like “stablecoin,” “RWA,” or “cryptocurrency” in registered names or business scopes; places tokenized real‑world assets (RWA) under regulatory control; and emphasizes the primacy of China’s digital yuan (e‑CNY), allowing banks to pay interest on e‑CNY wallets from Jan 1, 2026.

AI Analysis

Joint notice from the People’s Bank of China and seven agencies: prohibits unauthorized offshore issuance of yuan‑pegged stablecoins by domestic and foreign entities, bars financial institutions from banking/clearing services to crypto businesses, continues mining enforcement, forbids use of terms like “stablecoin,” “RWA,” or “cryptocurrency” in registered names, brings RWA tokenization under regulatory control, and prioritizes the digital yuan with banks allowed to pay interest on e‑CNY wallets from Jan 1, 2026.

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