China considered the tokenization of RWA illegal and lumped it with crypto and stablecoins.
The regulatory environment broadened the reach of the liability in offshore projects that had mainland-based employees or service providers.
The decision is consistent with China’s digital yuan and capital control policies.
China releases its widest-ranging crackdown to date on real-world asset (RWA) tokenization, designating it as an illicit and high-risk business while now applying it to all RWA projects, both overseas and offshore with any connections to China. This is expected to severely limit any RWA projects related to Bitcoin and crypto, effectively marking an end to China’s Web3 ecosystem.
Seven major financial industry bodies jointly released the notice, including the China Internet Finance Association, China Banking Association, China Securities Association, China Asset Management Association, China Futures Association, China Association of Listed Companies, and th
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