China's central bank and regulatory bodies have introduced new cryptocurrency policies, significantly impacting the issuance and management of digital assets. The People's Bank of China (PBOC) and other ministries issued a directive, Yin Fa [2026] №42, prohibiting the issuance of RMB-denominated stablecoins. Additionally, the China Securities Regulatory Commission (CSRC) released guidelines mandating that Real World Asset (RWA) tokenization must occur offshore, with stringent requirements for offshore RWA issuance. The new regulations stipulate that offshore RWA issuance must involve high-quality onshore assets and adhere to rigorous compliance standards. Issuers are required to file comprehensive reports with the CSRC, detailing entities, assets, and token structures. These regulations align RWA tokenization standards with those of listed companies, aiming to enhance transparency and investor protection in the burgeoning digital asset sector.