The latest announcement from the People’s Bank of China follows months of flip-flopping on privately issued yuan-pegged stablecoins.

The People’s Bank of China (PBOC), the country’s central bank, and seven Chinese regulatory agencies published a joint statement on Friday banning the unapproved issuance of Renminbi-pegged stablecoins and tokenized real-world assets (RWAs).

The ban applies to both domestic and foreign stablecoin and tokenized RWA issuers, according to the statement, which was also signed by the Ministry of Industry and Information Technology and China’s Securities Regulatory Commission. A translation of the announcement said:

https://www.zerohedge.com/crypto/china-bans-stablecoin-issuance-foreign-and-domestic-companies