The China Banking Regulatory Commission has unofficially instructed several local brokers to suspend activities in the field of real asset tokenization (RWA) in Hong Kong, Reuters reports, citing sources.
According to the agency, the move is aimed at strengthening risk control. The regulator wants to ensure that RWA projects are based on real business and are not used as speculative instruments.
Beijing’s initiative contrasts with Hong Kong’s policy, which has recently been actively promoting itself as a global center for digital assets. Mainland China banned cryptocurrency trading and mining in 2021, but at the same time, in August, it became known that the Chinese government was exploring the possibility of legalizing the use of yuan-backed stablecoins.
According to RWA.xyz, the global market for tokenized real assets is currently valued at $28 billion.
