Authored by:Huang Ling, Hu Zhe (Eddie), Zhou Jie, Yang Xiaoquan, Wang Xinghua (Owen), Xu Jiaxing (Jason), Liu Ning and Fang wei
On 6 February 2026, the People’s Bank of China, together with seven other ministries and commissions, jointly issued the Notice on Further Preventing and Disposing of Risks Relating to Virtual Currencies and Similar Activities. On the same day, the China Securities Regulatory Commission promulgated the Regulatory Guidelines on the Offshore Issuance of Asset Backed Securities Tokens Based on Domestic Assets. These two instruments are collectively referred to as the “New RWA Token Rules”.