📊 🎯 Risk-off: China’s **8-agency** crackdown tightens the noose on digital-asset rails—banning **unapproved offshore issuance of RMB/CNY-linked stablecoins** and flagging **unapproved RWA tokenization** as an enforcement target.
📊 PBOC’s 2026-02-06 notice reiterates crypto-related activities as illegal financial activities, extends the posture to continued mining enforcement, and explicitly bars **financial institutions + non-bank payment firms** from providing **accounts/transfers/clearing** tied to crypto activity.
📊 Policy is framed around **monetary sovereignty** and restricting cross-border token issuance by onshore entities and their offshore units; adds headline risk across stablecoin issuers, exchanges/crypto services, and tokenization/RWA platforms (incl. broad baskets like the **Coinbase C50**).
Feb 6, 2026 14:07📊 What to watch: follow-through on implementation/approval pathways for RMB-linked issuance offshore, and whether the RWA language signals broader restrictions beyond stablecoins.
#Crypto #Stablecoins #ChinaRegulation $C50
#Crypto #Stablecoins #ChinaRegulation
