China bans RMB stablecoins, mandates offshore RWA issuance under CSRC filing rules

China's central bank and regulators issued Yin Fa [2026] No. 42 on Feb. 6, 2026, banning RMB-denominated stablecoins and prohibiting onshore RWA tokenization, lawyer @JianzhiJin said. Offshore RWA issuance must meet high standards, use compliant onshore assets, and file with the CSRC including reports, documents, and disclosures on entities, assets, and token structure. The lawyer noted RWA regulation is comparable to listed company requirements.