Seven leading Chinese financial associations, including the China Internet Finance Association, have issued a joint warning against real-world asset (RWA) tokenization and all cryptocurrency-related activities. The statement, released on December 5, explicitly prohibits stablecoin operations, airdrops, mining, and RWA tokenization platforms, reinforcing China's comprehensive ban on crypto activities. The associations emphasized that RWA tokenization poses a threat to financial stability and monetary sovereignty, reiterating that virtual assets cannot replace the Chinese Yuan as a legal currency. This warning aims to deter both domestic and foreign entities from engaging in prohibited crypto activities within China.