Chinese regulators have reaffirmed the existing ban on cryptocurrency operations. Additionally, the Chinese authorities have expanded restrictions to include the tokenization of real assets (RWA), as well as the issuance of offshore stablecoins pegged to the yuan. A joint statement from the People's Bank of China and several government agencies emphasized that trading digital assets, issuing tokens, raising funds, and services related to crypto exchanges are still considered illegal financial activities on the mainland. The document states that virtual assets do not have the status of legal tender and cannot be used as money.