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China Advises Domestic Brokerages to Pause RWA Tokenization in Hong Kong
China Advises Domestic Brokerages to Pause RWA Tokenization in Hong Kong
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BTCCSquare news:
China's securities regulator has informally directed major brokerages to suspend real-world asset tokenization activities in Hong Kong. The move reflects Beijing's growing unease with the rapid expansion of offshore digital asset markets, even as Hong Kong pushes forward with ambitions to become a crypto hub.
At least two prominent firms received guidance from the CSRC to halt RWA projects temporarily. Authorities aim to tighten risk controls and verify the legitimacy of tokenized asset ventures. The advisory underscores China's cautious approach to cryptocurrency innovation, despite neighboring jurisdictions embracing blockchain-based financial products.
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