China steps up crypto crackdown, will vet real-world asset tokens
BEIJING: China vowed to further tighten its crackdown on virtual currencies on Friday and banned unauthorised offshore issuance of yuan-pegged stablecoins. Authorities will also strictly vet offshore issuance of tokens backed by Chinese onshore assets, according to a notice published on the central bank’s website. Although the statement largely reiterates Beijing’s existing ban on cryptocurrency,…