Regulators said foreign platforms serving mainland users would also fall under scrutiny, signaling a coordinated enforcement push rather than symbolic rulemaking. A key focus of the notice is overseas activity.
Domestic companies—and offshore entities they control—are barred from issuing digital tokens abroad without regulatory sign-off, a move aimed squarely at tokenized real-world assets and cross-border fundraising structures.
FAQ What did China announce on Feb. 5, 2026?China issued a joint notice reinforcing its crypto ban and restricting offshore token issuance and yuan-linked stablecoins. Who issued the new crypto directive?The notice was led by the People’s Bank of China alongside seven other regulatory agencies. Are yuan-backed stablecoins now banned?Yes, unauthorized overseas issuance of yuan-linked stablecoins is explicitly prohibited. Does this change China’s stance on crypto trading?No, all crypto-related activities remain illegal under existing Chinese law.
