{"id":71367,"date":"2026-02-07T11:31:33","date_gmt":"2026-02-07T11:31:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=71367"},"modified":"2026-02-07T11:31:33","modified_gmt":"2026-02-07T11:31:33","slug":"china-steps-up-crypto-crackdown-blocks-domestic-and-overseas-issuers","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=71367","title":{"rendered":"China Steps Up Crypto Crackdown, Blocks Domestic And Overseas Issuers"},"content":{"rendered":"
\n

China has signaled a renewed and more forceful push to tighten its grip on the cryptocurrency sector, reaffirming its long\u2011standing ban on virtual currencies while introducing stricter oversight of offshore token issuance tied to Chinese assets.\u00a0<\/p>\n

According to a Reuters report<\/a>, Chinese authorities said they will closely scrutinize the offshore issuance of tokens backed by assets located onshore and have explicitly banned the unauthorized issuance of yuan\u2011pegged stablecoins outside the country.<\/p>\n

China Tightens Crypto Controls<\/h2>\n

In a notice published on the People\u2019s Bank of China\u2019s website, regulators said domestic companies and overseas entities under their control are prohibited from issuing virtual currencies<\/a> abroad without official approval.\u00a0<\/p>\n

The move effectively shuts the door on privately issued offshore yuan stablecoins, reinforcing Beijing\u2019s position that cryptocurrencies cannot function as money within China\u2019s financial system.<\/p>\n

The announcement largely restates China\u2019s existing prohibition on cryptocurrencies, but it also introduces new clarity around emerging areas of digital finance. Notably, some market participants see the language as a sign that China is laying the groundwork for regulating real\u2011world asset (RWA) tokenization<\/a>.\u00a0<\/p>\n

Louis Wan, chief executive of Unified Labs, described the distinction made by regulators as a significant development. He said the key change lies in the clear separation between virtual currencies and RWA tokenization.\u00a0<\/p>\n

While cryptocurrencies remain banned, RWA activity is now being brought into the regulatory system. For China\u2019s RWA sector, he called the move a milestone.<\/p>\n

Crackdown On Private Stablecoins<\/h2>\n

China\u2019s central bank also emphasized its control over digital currency issuance, underscoring that the digital yuan<\/a> is the only legitimate form of state\u2011backed digital money.\u00a0<\/p>\n

Winston Ma, an adjunct professor at NYU School of Law, said the message from regulators is that there will be no tolerance for a mix of private yuan\u2011based stablecoins circulating on global crypto exchanges.\u00a0<\/p>\n

Officials said the tougher stance reflects concerns that recent speculative activity in virtual currencies has created \u201cnew risks\u201d that require additional regulatory measures.\u00a0<\/p>\n

In a joint statement issued by the People\u2019s Bank of China along with seven other government agencies, authorities reiterated that virtual currencies do not carry the same legal standing as traditional fiat money<\/a>.\u00a0<\/p>\n

Regulators also warned that, without explicit approval, neither domestic firms nor their overseas affiliates are allowed to issue cryptocurrencies abroad. Both Chinese and foreign entities were barred from issuing offshore stablecoins linked to the yuan unless authorized.\u00a0<\/p>\n

Authorities noted that stablecoins pegged to fiat currencies can effectively perform some of the same functions as money in circulation, making them a particular focus of regulatory scrutiny.<\/p>\n

\"Crypto\"<\/p>\n

Featured image from OpenArt, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

China has signaled a renewed and more forceful push to tighten its grip on the cryptocurrency sector, reaffirming its long\u2011standing ban on virtual currencies while introducing stricter oversight of offshore token issuance tied to Chinese assets.\u00a0 According to a Reuters report, Chinese authorities said they will closely scrutinize the offshore issuance of tokens backed by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-71367","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/71367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71367"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/71367\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}