A State Council report reviewing Chinese financial work since October 2025 includes virtual currencies and real-world asset tokenization among a mix of oversight, investigation and enforcement measures.
People’s Bank of China (PBOC) Gov. 潘功胜 delivered the State Council’s report to lawmakers Nov. 3, when the 14th National People’s Congress Standing Committee held its 25th meeting.
Officials listed stronger supervision of real-world asset tokenization and work to update policy for virtual currencies. Authorities also assessed leads that may connect underground banking with virtual-currency activity. The report described sector-wide efforts to curb virtual-currency mining.
It also recorded another round of crackdowns on criminal networks in the financial sector and completion of a nationwide illegal-fundraising campaign. Taken together, the listed work covers regulatory supervision, investigative leads and enforcement campaigns.
The report names no new regulation specific to tokenizing real-world assets or to virtual currencies. It sets no date for an enforcement action associated with the measures.
