China Bans RWA Tokenization, Names Bitcoin, Ethereum, Tether In Sweeping Crypto Crackdown
China's central bank issued comprehensive regulations on February 6 banning real-world asset tokenization and offshore issuance of yuan-pegged stablecoins. The People's Bank of China explicitly named Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) as lacking legal tender status in Notice No. 42, si