China extends crypto ban to stablecoins, tokenized real-world assets

Mainland China widens its crypto ban to cover RMB-pegged stablecoins and tokenized real-world assets, even as Hong Kong pushes ahead with a licensed stablecoin regime. China’s central bank and top regulatory authorities have extended the country’s cryptocurrency ban to include tokenization of real-world assets and stablecoins, according to a new regulatory notice. China issues new stablecoin guidance The People’s Bank of China and the China Securities Regulatory Commission, along with other agencies, released the notice to prevent and resolve risks associated with virtual currencies. Virtual currencies and mining remain completely prohibited in China under the expanded framework. The notice requires…