The Latest On China's Policy Re Crypto Currencies And RWA Tokenization

On February 6, 2026, following the reaching of consensus with cyberspace security and judicial authorities, and as approved by the State Council, all the PRC regulatory authorities responsible for virtual asset regulation (including PBOC, CSRC, SAFE, NDRC, and public security, and information technology authorities) jointly issued the Notice on Further Preventing and Managing Risks Related to Virtual Currency and Other Activities (the "Notice"). The Notice comprehensively lays out the PRC government's policies on regulation of virtual assets, with virtual currencies continuing to be subject to a strict ban, while real world asset ("RWA") tokens, for the first time, are specifically allowed although certain details on implementation remain to be clarified.