Strict regulation of virtual currencies and "real-world asset tokenization" (such as turning houses, stocks, etc. into digital tokens for trading).

A few key points:
1. Clear qualitative stance: Virtual currencies are not considered currency domestically, and related activities are illegal. Offshore platforms are also not allowed to provide services to domestic users. Real-world asset tokenization is also basically prohibited in China unless conducted by approved specific financial infrastructure.
2. Stricter controls: Not only is domestic activity restricted, but domestic institutions are also not allowed to issue virtual currencies abroad (especially "stablecoins" pegged to the RMB) without approval.
3. Outbound business regulation: Domestic institutions wanting to conduct tokenized financing abroad (such as issuing tokens overseas using domestic assets) must be supervised by the National Development and Reform Commission, the CSRC, the State Administration of Foreign Exchange, and other departments; they cannot do it arbitrarily.
4. Comprehensive risk prevention: From monitoring, capital flow, advertising, mining, to cracking down on crime, multi-dimensional measures are in place. Local governments are also responsible for regional risk prevention and handling.
Virtual currencies and asset tokenization remain off-limits domestically. Regulations will tighten further, and international coordination is also within strict control. Everyone should avoid involvement, as the risks are high. The main reasons for these measures are risk prevention, anti-money laundering, protection of citizens’ assets, and maintaining financial security.