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China Tightens Crypto Crackdown, Targets RWA Token Issuance

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China has stepped up its crackdown on virtual currencies, banning unauthorized offshore issuance of yuan-pegged stablecoins and pledging stricter oversight of tokens backed by onshore assets, according to a notice published by the People’s Bank of China. The move reinforces Beijing’s long-standing prohibition on cryptocurrencies while drawing a clearer regulatory line around real-world asset (RWA) tokenization.

Authorities said virtual currency-related activities remain illegal financial operations and warned domestic entities—and their overseas affiliates—against issuing tokens abroad without approval. Regulators also barred both domestic and foreign firms from issuing offshore stablecoins pegged to the yuan, underscoring that such instruments effectively replicate functions of fiat currency. Financial institutions were cautioned not to provide banking or clearing services to crypto-related businesses.

While reiterating a hard line on cryptocurrencies, the notice introduces a notable distinction for RWA tokenization. Offshore issuance of tokens backed by Chinese onshore assets will be subject to strict vetting by relevant authorities, a shift some industry observers view as the beginnings of a formal legal framework. Analysts say the policy signals recognition of RWA activity—long operating in a gray area—while maintaining the central bank’s monopoly over digital money via the digital yuan.

Officials cited renewed speculative activity as justification for tighter measures. Market participants now await detailed implementation rules to determine whether regulated RWA issuance can proceed and produce viable use cases under China’s oversight.

Germany’s CDU Considers Social Media Ban for Under-16s

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Germany’s conservative Christian Democratic Union is weighing a proposal to bar children under 16 from social media, though coalition partners have signaled reluctance toward a blanket ban. The debate follows similar moves abroad after Australia introduced age-based restrictions, intensifying scrutiny of social media’s effects on young users across Europe.

Dennis Radtke, head of the CDU’s labour wing, said rapid changes in social media have outpaced media literacy, arguing that platforms amplify hate and misinformation. He welcomed the idea of adopting a minimum age, citing the need to protect children. By contrast, the Social Democrats (Social Democratic Party of Germany), the CDU’s centre-left coalition partners, cautioned against an outright prohibition, calling instead for stronger platform-led safeguards, age verification, and limits on aggressive recommendation algorithms for minors.

The issue is set to feature at the CDU’s national conference later this month, following a motion from the party’s Schleswig-Holstein branch proposing a statutory minimum age of 16 with mandatory age checks. The motion reportedly names platforms including TikTok and Meta Platforms’ Instagram and Facebook.

Germany has intensified its focus on online harms, appointing a special commission last year to assess protections for young people. Regulators say issues such as cyberbullying and hate speech are taken seriously, adding that if voluntary measures fail, stricter interventions—including bans—could be considered as a last resort.

EU Charges TikTok Over Addictive App Design Under DSA

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The European Union has charged TikTok with breaching online content rules, accusing the app of using addictive design features that could harm users, particularly minors. The move follows a year-long probe by the European Commission under the Digital Services Act, which empowers regulators to demand changes or impose fines of up to 6% of a company’s global turnover.

Regulators cited features such as infinite scroll, autoplay, push notifications, and highly personalized recommendations as mechanisms that encourage compulsive use. The Commission said TikTok failed to adequately assess risks to users’ physical and mental wellbeing and did not implement sufficient safeguards, including effective screen-time controls and parental tools.

TikTok rejected the allegations, calling the preliminary findings false and saying it would challenge them. EU officials said the platform may be required to redesign core elements in Europe, including disabling infinite scroll over time, adding meaningful breaks—especially at night—and adapting its recommender system.

The action underscores the EU’s broader crackdown on Big Tech, with similar DSA charges previously brought against Meta Platforms’ Facebook and Instagram over deceptive interface designs. Regulators are also scrutinizing age-verification systems at Snapchat, YouTube, Apple, and Google as governments debate tougher limits on teen access to social media.