Legislation Roundup: Stablecoins, Tokenized ABS, and Government procurement

China prohibits issuing of stablecoins linked to the renminbi overseas without explicit regulatory approval. CSRC tightens regulation of asset-backed securities tokenization. Ministry of Finance defines abnormally low bids in government procurement.

By Susan Mok

Finance

People’s Bank of China, Ministry of Industry and Information Technology, Ministry of Public Security and Five Other Departments, Circular on Further Guarding Against and Dealing with Risks Associated with Virtual Currencies

中国人民银行、工业和信息化部、公安部等关于进一步防范和处置虚拟货币等相关风险的通知

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