The People's Bank of China and seven other departments: Financial institutions and internet companies are not allowed to provide related services for virtual currencies and RWA tokenization businesses.

On February 6th, the People’s Bank of China and seven other departments issued a notice on further preventing and addressing risks related to virtual currencies and other related activities. The notice states that financial institutions (including non-bank payment institutions) shall not provide services such as account opening, fund transfer, and clearing and settlement for virtual currency-related activities, shall not issue or sell financial products related to virtual currencies, shall not include virtual currencies and related financial products as collateral or pledge assets, and shall not conduct insurance business related to virtual currencies or include virtual currencies within insurance coverage. Additionally, they should strengthen risk monitoring and promptly report clues of illegal or violations issues to relevant departments. Financial institutions (including non-bank payment institutions) shall not provide custody, clearing, or settlement services for unapproved real-world asset tokenization activities and related financial products. Relevant intermediary agencies and information technology service providers shall not offer intermediary or technical services for unapproved real-world asset tokenization activities and related financial products. The notice emphasizes strengthening management of internet information content and access. Internet companies shall not provide network operation venues, commercial display, marketing, paid traffic diversion, or other services for virtual currency and real-world asset tokenization activities. They should promptly report clues of illegal or violations issues to relevant departments and provide technical support and assistance for related investigations and law enforcement. Cyberspace, telecommunications, and public security departments shall, based on clues transferred by financial regulatory authorities, promptly shut down and handle websites, mobile applications (including mini-programs), and public accounts engaged in virtual currency and real-world asset tokenization activities in accordance with the law.