🚨 China Cracks Down on Yuan Stablecoins

🔒 China's stablecoin surprise

By Assemble Protocol
Feb 6, 2026, 3:08 PM
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China has banned the overseas issuance of yuan-linked stablecoins without government approval, marking a significant regulatory move in the digital currency space.​

Key Points:

  • The ban targets stablecoins pegged to the Chinese yuan issued outside mainland China
  • Issuers must now obtain official approval before launching yuan-backed digital assets
  • This follows China's consistent stance that crypto and stablecoins have no legal status domestically

Context: China has maintained strict crypto regulations, previously ordering stricter enforcement against digital assets in December 2025.​ This latest move extends Beijing's control over yuan-denominated financial products into the offshore stablecoin market.​

The timing is notable as Tether recently minted multiple billion-dollar USDT batches, and the U.​S.​ advances legislation around stablecoins.​ China's action reinforces its approach to maintaining monetary sovereignty while other nations develop stablecoin frameworks.​

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