China expands crypto crackdown to stablecoins, asset tokenization

China has intensified its efforts to regulate the cryptocurrency market by extending its crackdown to encompass not only stablecoins, which are cryptocurrencies designed to maintain a stable value by being pegged to traditional currencies or assets, but also the practice of asset tokenization, where real-world assets are converted into digital tokens on a blockchain. This move aims to bolster financial stability and prevent potential risks associated with the rapid proliferation of digital currencies and tokenized assets in the country. source: https://www.coindesk.com/policy/2026/02/06/china-expands-crypto-crackdown-to-stablecoins-asset-tokenization