🚫 China bans the issuance of stablecoins and RWAs by foreign and domestic companies

📊 The People's Bank of China (PBOC) announced a ban on unapproved issuance of stablecoins pegged to the yuan and tokenized real-world assets (RWA).

🛡 This regulation applies to both domestic and foreign issuers, highlighting China's stance on cryptocurrencies.

📅 The announcement was a result of months of uncertainty regarding privately issued stablecoins pegged to the yuan.

💰 The ban applies to both domestic and offshore versions of the yuan, known as CNY and CNH respectively.

⚙️ This step is part of a broader strategy to keep speculative cryptocurrencies outside the formal financial system while promoting the use of e-CNY, China's central bank digital currency (CBDC).

📅 In January 2026, the PBOC allowed commercial banks to offer interest on digital yuan wallets, increasing the attractiveness of CBDC.

📅 The Chinese government briefly considered allowing private issuance of stablecoins but refocused on the development of CBDC.

📉 The testing of stablecoins was suspended in September 2025, indicating a strict regulatory environment for digital assets in China.