China expands crypto ban to include offshore yuan stablecoins and asset tokens
China today tightened its crypto ban and restricted offshore yuan stablecoins. The move also introduces strict vetting for tokens backed by onshore assets.
The People's Bank of China and other agencies announced today, February 6, 2026, a significant tightening of controls on virtual currencies. This move by authorities in China 
CN includes a ban on the unauthorized offshore issuance of yuan-pegged stablecoins and requires strict vetting for any offshore issuance of tokens backed by Chinese onshore assets. These measures are a contemporaneous regulatory intervention intended to reiterate and strengthen existing cryptocurrency prohibitions in response to recent speculative activities.
CN includes a ban on the unauthorized offshore issuance of yuan-pegged stablecoins and requires strict vetting for any offshore issuance of tokens backed by Chinese onshore assets. These measures are a contemporaneous regulatory intervention intended to reiterate and strengthen existing cryptocurrency prohibitions in response to recent speculative activities.
