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BTCC / BTCC Square / Global Cryptocurrency /
China Bans Stablecoins in Push for Stronger Monetary Control

China Bans Stablecoins in Push for Stronger Monetary Control

Author:
Global Cryptocurrency
Published:
2026-02-08 11:09:02
15
3
BTCCSquare news:

Beijing has drawn a hard line on digital currencies. The People’s Bank of China, alongside seven regulators, has prohibited the unauthorized issuance of yuan-backed stablecoins and tokenized assets. The ban applies universally—to domestic and foreign entities alike—and covers both onshore (CNY) and offshore (CNH) yuan transactions.

This decisive MOVE underscores China’s commitment to its central bank digital currency, the e-CNY. By eliminating competition from private stablecoins, authorities aim to bolster the adoption and influence of their sovereign digital asset. Winston Ma, a former director of China’s sovereign wealth fund, interprets the ban as the culmination of a years-long regulatory crackdown.

|Square

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